AFRICAN DEVELOPMENT BANK (AFDB) GROUP PRESIDENT, AKINWUMI ADESINA STATED AT THE ON-GOING 2023 AFDB ANNUAL MEETINGS IN SHARM EL SHEIKH, EGYPT ON MONDAY THAT  AFRICA WILL NEED ABOUT 2.7 TRILLION DOLLARS BY 2030 TO FINANCE CLIMATE CHANGE.

ACCORDING TO THE BANK PRESIDENT, CLIMATE CHANGE IS CAUSING TREMENDOUS HAVOC IN MANY PARTS OF THE CONTINENT, NOTING THAT IN THE  SAHEL  HOTTER TEMPERATURES ARE DRYING UP LIMITED WATER, CAUSING WATER STRESS FOR CROPS AND LIVESTOCK AND WORSENING FOOD INSECURITY.HE EXPLAINED THAT IN VAST AREAS OF EASTERN SOUTHERN AFRICA AND IN THE HORN OF AFRICA IN PARTICULAR, THERE WAS A COMBINATION OF DROUGHT AND FLOODS THAT ARE CAUSING MASSIVE LOSSES. ADESINA ALSO MENTIONED THAT  AFRICA LOSES SEVEN TO 15 BILLION DOLLARS A YEAR FROM CLIMATE CHANGE THAT IS ESTIMATED TO RISE TO 50 BILLION DOLLAR BY 2040 AT THE CURRENT TREND.