"The African region suffers an average of $75 million in financial losses annually from climate change," Akinwumi Adesina, President of the African Development Bank, told reporters, APA reports.
According to him, the African contingent needs $277 million annually to prevent climate change:
"Climate change is a major factor that creates risks for the economic development of countries around the world as a whole. I believe that all parties participating in COP29 should join forces to address the problem of climate change and take effective measures to provide climate finance to countries in vulnerable groups. The African region suffers an average of $75 million in financial losses per year from climate change. Last year, this figure was $50 million. It is appropriate to allocate $277 million per year, and $300 million in total, to prevent climate change in Africa. Individual countries should not remain silent on the issue of climate change, but should work towards more sustainable finance. Multilateral development banks allocated $1.77 billion for this purpose in 2020. $20 million of this was spent on mitigation measures. I think the world should be more proactive in thinking about ways to achieve new collective quantitative targets.”
"Representatives from countries around the world at various levels gathered at COP29 in Baku precisely to achieve common goals. Both President Ilham Aliyev's speech at the opening ceremony, the speech of COP29 President Mukhtar Babayev, and the work carried out by chief negotiator Yalchin Rafiyev create confidence that this summit will be successful."
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