Lomé hosts 3-day Pan-African forum on climate financing

Economic governance
Wednesday, 24 May 2023 16:42
Lomé hosts 3-day Pan-African forum on climate financing

(Togo First) - Lomé is hosting a Pan-African forum that gathered Designated National Authorities (DNAs) from 23 countries that adhere to the Pan-African Readiness initiative. The forum is steered by the Africa Adaptation Initiative (AAI). Launched on May 23, the forum aims to define strategies for better access to climate financing in African states.

During the 3-day meeting, the DNAs will deepen their understanding of the Green Climate Fund, so they can help their respective countries access climate financing. They will also learn more about climate change adaptation projects and share best practices or successful adaptation projects.

According to Togo's Minister of Environment and Forestry Resources, Foli-Bazi Katari, defining a common strategy is necessary due to Africa’s financial flows which are lower than needed to implement adaptation measures in all sectors, at the national level.

"In our respective countries, we must promote sectoral policies and governance mechanisms that encourage and support the attraction of national and international capital," he said.

Sandra Freitas, who heads the Sustainable Solution for Africa (SSFA) firm, added that "it is essential for countries to reflect deeply on how to mobilize the capital necessary for investing in climate change before the crisis intensifies and takes on proportions that we cannot control."

The ongoing Pan-African forum aligns with AAI’s project to support African leadership’s climate change adaptation efforts. 

Esaïe Edoh

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