Thursday, January 21, 2021

World Bank plans $5bn investment in Africa over climate change

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The World Bank plans to invest over $5bn in the next five years to help restore degraded landscapes, improve agriculture productivity, and promote livelihoods across 11 African countries on a piece of land stretching from Senegal to Djibouti.

World Bank Group President, David Malpass, announced the investment at the One Planet Summit, a high-level meeting co-hosted with France and the United Nations that is focused on addressing climate change and biodiversity loss.

The more than $5bn in financing will support agriculture, biodiversity, community development, food security, landscape restoration, job creation, resilient infrastructure, rural mobility, and access to renewable energy across 11 countries of the Sahel, Lake Chad and Horn of Africa.

Many of these efforts are in line with the Great Green Wall initiative.