Africa Loses 15 Billion Dollars Annually For Climate Change -Adesina

By Linda Ike

President of the African Development Bank (AFCB), Dr. Akinwunmi Adesina, said Africa is losing about seven to fifteen billion dollars annually due to the impacts of climate change.

Adesina stated this while addressing delegates at the 59th Annual Assembly and the 50th meeting of the African Development Fund, at the ongoing AFCB annual meetings in commemoration of the institution’s 60th anniversary.

He underscored Africa’s vulnerability to environmental upheaval and called for the urgent need for immediate action.

He further cautioned that without intervention, projected annual losses due to climate change could skyrocket to a staggering forty billion dollars by 2030.

Adesina pointed to the continent’s ongoing struggle against extreme weather events, citing severe droughts in Malawi and devastating floods in Mozambique as prime examples.

He stressed that Africa’s economic future hinges on its ability to withstand these environmental shocks, urging substantial financial assistance to fortify Africa’s resilience against escalating climate challenges.