€1 billion has been pledged to Africa in its struggle against climate change

The European Union is funding Africa’s fight against climate change with €1 billion.
The announcement came during Wednesday’s Climate Change Conference meeting in Egypt.
A pledge to help repair damages and build climate change-resilient structures was also made.

The European Union has pledged €1 billion in support of climate adaptation in Africa.

The announcement was made during the United Nations’ Climate Change Conference in Egypt on Wednesday November 15, 2022, by Frans Timmermans, the executive vice president of the European Commission.

He noted during the event that the COP27 is very Africa centric owing to the economic crises spurred on by climate change in the region.

“Africa has contributed least to where we are today. Yet many of the countries on this continent are among the most vulnerable to climate change and are suffering more than many other places. So, we need to step up our game for adaptation in Africa,” Frans Timmermans said.

“That is why I am happy to announce at this event that together the European Union and four member states, France, Germany, the Netherlands, and Denmark, will provide over 1 billion euros to support adaptation in Africa. This 1 billion euros initiative is a starting point. Other member states can join and we also encourage development banks to join.” Frans Timmermans added.

According to Frans Timmerman, the €1 billion would be utilized in four key areas.

Data collection and analysis on climate risk.
Creating a reinforcement and warning system.
The development of multi and single-country proposals to mobilize international climate finance, including from the private sector.
Strengthening climate and disaster risk finance and insurance mechanisms to protect vulnerable populations against climate hazards.

Speaking further at the event, the executive vice president noted that support from the UN would not just be relegated to climate adaptation alone, but also to the repair of some of the damages spawned by climate change. To this effect €60 million would be donated.

He also spoke about building climate-resilient infrastructures in the continent as a way to subsequently prevent the sort of damage Africans experienced this year as a result of odd weather patterns.

“The EU will not stop there. The climate finance target for our main global budgetary program has been raised to 35%. And we intend to raise further investments for clean, secure, and climate-resilient infrastructure. That includes the Great Green Wall, the EU African Union transboundary water management initiative, and strategic corridors to name a few.” Frans Timmermans said.