Innovating Finance For Climate Change As Policymakers Gather For U.S.-Africa Leaders Summit

African Media Agency(AMA)/- Africa.com, Bank of America and Africa Finance Corporation (AFC) are convening a high-level curated event to discuss innovating finance for climate change in Washington D.C. on December 15, during the U.S.- Africa Leaders Summit.

The event will bring together a focus group of senior leaders to contribute to framing financial innovations that are needed to advance the partnership between the United States and Africa on tackling global climate change.

“As one of the largest investors in renewable energy on the continent, AFC is leveraging the US-Africa Leaders Summit to call upon U.S. impact investors, philanthropists, fund managers, and research and technology institutions to join us in developing global standards for carbon trading, providing safer and less polluting energy alternatives for the millions of Africans that cook with firewood, and overcoming the challenge of energy poverty in Africa today,” said Samaila Zubairu, President & CEO of Africa Finance Corporation. “We have doubled down on AFC’s commitment to clean technology, targeting growth in our Renewable Energy Platform from 1.4GW to 5GW by 2025, and welcome meaningful discussion on finding ways to crowd in further stakeholders.”

“We need strong partners to work with in resolving some of this century’s accelerating challenges for Africa: climate change, energy and technology. Identifying institutions with the ability to develop, deliver and scale solutions is critical to addressing financing gaps and accessing opportunities to mobilize capital more effectively in Africa,” said Yvonne Ike, head of sub-Saharan Africa (ex-RSA), Bank of America.

 

The United States recently issued a n ew policy towards Africa that seeks partnership with African institutions to address key global challenges, particularly in relation to energy, global climate change and technology. There is no better time than now for Africa to play a central role, working with the United States and other developed economies, in solving these global challenges.

Leading the conversation are Samaila Zubairu, President & CEO, Africa Finance Corporation, and Yvonne Ike, Managing Director, sub-Saharan Africa (ex-RSA), Bank of America.

The event is unique in featuring an interactive conversation among experts moderated by Teresa Clarke, Chair of Africa.com. “The goal of the evening is to end with new ideas, new and stronger relationships, and specific action items that will lead to creative financing solutions as Africa moves forward in addressing global climate change,” said Clarke.