Africa Climate Change Fund Launches Women and Youth Entrepreneurship Project

5 December 2022
Content from a Premium Partner
African Development Bank (Abidjan)
press release

A screenshot of participants during the virtual launch

The Africa Climate Change Fund (ACCF) Secretariat has launched a scheme to support mechanisms for climate adaptation finance for women entrepreneurs and youth.

The scheme, "YouthADAPT: Empowering Women and Youth for Entrepreneurship and Job Creation in Climate Adaptation and Resilience," will develop innovative, transformative climate-resilient bankable projects aligned with African countries' Nationally Determined Contributions.

YouthADAPT is a flagship program under the Africa Adaptation Acceleration Program (AAAP), which is unlocking the untapped potential of youth in Africa to drive resilience and green enterprise.

The virtual launch followed the approval of a $1 million grant funding by the ACCF's development partners for the project. The event rallied together stakeholders, including the project team, quality control, adaptation, gender, and communication experts, and climate change and green growth experts to share experiences.

ACCF Coordinator Rita Effah, and the Portfolio Officer, Lucy Debrion, explained the Fund's operational guidelines on Bank-implemented projects.

AAAP Coordinator and Principal Climate Change Officer Edith Ofwona Adera said, "African youth are leading the way, not in talk, but in concrete climate action; as agents of change, innovators, and entrepreneurs."

She said the scheme would support women-led local enterprises promoting adaptation solutions to create additional jobs.

Adera thanked the ACCF for collaborating on the projects. Adera also commended the Fund for its role in facilitating the production of proposals. "That makes our work easier," she added.

Following the launch, the AAAP secretariat will regularly engage with the ACCF Secretariat on significant project milestones to ensure that the objective is fully accomplished.

Since 2017, the ACCF Governing Committees have approved 26 projects estimated at $15.87 million.

The AAAP will implement the project. For more information on ACCF and AAAP, please visit http://accf.afdb.org and www.afdb.org/aaap

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

Tagged:
Copyright © 2022 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 500 reports a day from more than 100 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.