Kenya is among the countries that will benefit from increased climate funding from international lenders who have jointly pledged to up their climate funding to low and middle-income states by about 61 per cent, year-on-year till 2030. MDBs are major providers of climate finance vulnerable nations need to reduce emissions and adapt to climate change. While the delivery of more international public climate finance looks promising, reports exhibit that finance for adaptation is lagging. Several COP participants earlier in the week expressed concerns over the lack of sufficient climate finance specifically in Africa. The statement was issued by the African Development Bank Group, the Asian Development Bank, the Asian Infrastructure Investment Bank, the Council of Europe Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the Inter-American Development Bank, the Islamic Development Bank, the New Development Bank, and the World Bank Group.

Source: Daily Nation November 16, 2024 17:14 UTC