African, Global Institutions Pledge $175M For Green Infrastructure 

African, Global Institutions Pledge $175M For Green Infrastructure 

7 months ago
1 min read

African and global institutions, joined by the governments of Germany, France, and Japan along with philanthropies, have pledged over $175 million towards the Alliance for Green Infrastructure in Africa (AGIA).

This commitment a show of solidarity amid COP28 signifies a leap toward accelerating transformative climate-aligned infrastructure projects across the continent.

During the signing ceremony, key representatives from various institutions expressed their enthusiasm and commitment to AGIA’s objectives.

READ ALSO: Nigeria Can Lead Lithium-Ion Battery Production, Climate Transition, Says AfDB

Germany’s Minister for Economic Cooperation and Development, Mrs Svenja Schulze, emphasized their support, stating, “Today marks an important step towards our shared goal of a just and equitable green transition in Africa.”

Japan’s Deputy Vice-Minister of Finance, Tomoyoshi Yahagi, highlighted their commitment to aiding Africa’s transition, saying, “Japan will provide US$10 million to AGIA to support Africa in undergoing a just and equitable transition to Net-Zero and achieving the 1.5°C pathway.”

AGIA, initiated a year ago at COP27, aims to unlock substantial private capital for green infrastructure projects, with a focus on closing the gap in project preparation and development.

The pledges received at this landmark event are seen as crucial in catalyzing Africa’s green infrastructure and advancing the continent’s journey towards a sustainable future.

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Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.


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