Climate change issues rule the high-level seminars of the African Development Bank ahead of its annual meetings from May 27 to May 28 in Côte d’Ivoire.
Dubbed as “Africa on the Rebound: Toward Balanced and Clean Growth,” the sessions endeavor to engage the delegates in an in-depth discussion on how to solve the region’s climate-related development challenges.
Côte d’Ivoire, for instance, saw its 16 million square kilometers of forestland shrink to merely 2 million square kilometers.
Anthony Nyong, chief of AfDB’s Environment and Social Protection Division, shared the key messages of the 2010 annual meetings of the bank’s governors:
- Climate change poses a disproportionately large threat to development in Africa, but the continent has an opportunity to embark upon and accelerate a low carbon-intensive economy.
- The costs of addressing climate change threats and growing a low-carbon-intensive economy is substantial, but the benefits of acting now outweigh the costs.
- Considerations of a future financial mechanism should reflect Africa’s development priorities and ensure Africa’s participation.
- AfDB is well-suited to administer Africa’s allocation of the Copenhagen Green Climate Fund.
The annual meeting will also see the election of AfDB’s president, the 12th replenishment of bank funds and the increase in board chairs from 18 to 20. The rest of the details can be found on AfDB’s website.