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Climate change and a proactive path to sustainable growth were the two important subjects discussed, among other things, at the Annual Meeting of the Development Bank Group, which is being held at Sharm El Sheikh, Egypt
Climate change and a proactive path to sustainable growth were the two important subjects discussed, among other things, at the Annual Meeting of the Development Bank Group, which is being held at Sharm El Sheikh, Egypt.
Setting the tone of the summit, Egyptian President El-Sisi stressed the need for evolving unconventional ideas and financing solutions to address climate change and sustainable development in the continent. No country could overlook climate change, the president stressed, adding that the negative global consequences of climate change would be sinister and no country would be spared from the consequences.
The important event is attended by heads of African governments and representatives of regional institutions, finance ministers, governors of central banks, etc. The theme of this year’s meeting is ‘Mobilizing Private Sector Financing for Climate and Green Growth in Africa’.
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Africa required US $200 billion annually to achieve its Sustainable Development Goals (SDGs), El-Sisi said. An amount of US$144 billion was needed to deal with the repercussions of COVID-19 and US$108 billion annually to fund infrastructure development projects.
