ADF and Climate Change, By Bobby Pittman, Vice President, Infrastructure, Private Sector and Regional Integration

6 September 2010
Content from a Premium Partner
African Development Bank (Abidjan)
press release

A strong replenishment of the African Development Fund will enable us to meet the growing demand for investment in clean, renewable energy from our African borrowing members.

Africa has done very little to contribute to global climate change problems; however, both the public and private sectors in Africa are keen to contribute to the solution by investing in renewable energies and energy efficiency, to ensure a low carbon economic growth.

We have a rapidly growing pipeline of wind, hydro, co-generation, geothermal and solar power projects. We are working with our clients to help them access the possible climate finance via the Clean Development Mechanism, the Global Environmental Facility, or the Climate Investment Funds as the case may be.

These climate finance tools, when eligible, would at best finance a portion of the needed costs to make the projects happen. The ADF resources and other co-financing solutions are essential to take the renewable energy projects forward while keeping them consistent with the affordability threshold required in Africa Low Income Countries.

Contacts

Bobby Pittman

Read the original article on African Development Bank (AfDB).

Tagged:
Copyright © 2010 African Development Bank. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 600 reports a day from more than 110 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.