The United Kingdom has declared a landmark investment of £49 million in climate change projects across Africa, according to an official statement released by Ndidiamaka Eze, Senior Press and Public Affairs Officer of the Foreign Commonwealth and Development Office.
The announcement of this substantial funding commitment is set to take place at the inaugural Africa Climate Summit, hosted by Kenya from September 4 to September 6. The projects are geared towards mobilizing financial resources for climate action and assisting communities in managing the adverse impacts of climate change on the continent.
Eze emphasized that the mobilization of finance and effective climate change management are critical aspects of Africa’s ongoing battle against climate change. The funding is expected to yield multiple benefits, including job creation, economic growth, and the enhancement of the lives of women, farmers, and vulnerable communities.
This substantial commitment by the UK government fulfills a promise made by UK Foreign Secretary James Cleverley during his visit to Kenya in December 2022 to provide honest and reliable investments in Africa. Moreover, it underscores the UK’s commitment to its COP26 commitments and showcases the robust partnership between the UK and Africa.
The £49 million investment package includes £34 million allocated to support new initiatives spanning 15 African countries. These projects aim to empower women, at-risk communities, and over 400,000 farmers to build resilience against climate change impacts. The support will be channeled through established programs such as CLARE, CIWA, and WISER, and will include the implementation of early warning systems utilizing text alerts, radio broadcasts, and social networks to assist remote communities in responding to extreme climate events.
In addition to this, seven new climate finance projects will be launched at the Africa Climate Summit, with investments amounting to £15 million from UK-backed FSD Africa Investments. This capital infusion will stimulate private sector participation and enable small-scale businesses to access financing, innovate new products, and introduce inclusive technological solutions, including transforming desert areas into arable land.
Collectively, these projects will enhance access to essential services, including renewable energy and healthcare, for more than half a million people, generating 3,400 jobs and delivering affordable and reliable power to households.
UK Minister for Development and Africa, Andrew Mitchell, expressed, “Our partnerships with African countries on green investment and climate resilience are growing economies and improving lives. But more action has to be taken, as those least responsible for climate change are increasingly bearing the brunt of its effects. The UK is working closely with African partners to fight climate change, boost resilience, and help those whose lives are most impacted.”
During his visit to Nairobi, Minister Mitchell is expected to reaffirm the UK’s commitment to providing £11.6 billion of international climate finance over five years and advocate for swift reform of the international financial system to unlock trillions of dollars for combating climate change.
Furthermore, the minister will welcome the launch of “Weza Power,” a new partnership between the Government of Burundi and UK-backed company Virunga Power. This initiative aims to extend energy access to nearly 70 percent of Burundi’s population.
Eze added that the minister’s agenda includes a visit to Nairobi Railway City, a city center redevelopment project designed by British architects incorporating the latest green technology and backed by KES 11.5 billion of UK investment. This project is one of six climate investment initiatives that have been expedited following the COP27 meeting, with construction already underway and groundbreaking at a second project.
The UK’s substantial investment in African climate change initiatives demonstrates a firm commitment to addressing one of the world’s most pressing challenges while fostering economic growth and resilience across the continent.
Photo Source: Google
4th September ,2023
By: Delino Gayweh
Serrari Financial Analyst
