March 23, 2019The public sector cannot provide enough finance to make African countries resilient to climate change impacts, and funding from the private sector is hard to come by. The Adaptation Benefits Mechanism (ABM) is an innovative mechanism for mobilising new and additional public and private sector finance. On 21st March, 2019, in the margins of the Africa Climate Week in Accra, Ghana, the African Development Bank launched the pilot phase of the ABM. Ben Sheardown from Whave Solutions said “The residents of Uganda are already beginning to experience the effects of climate change. He also said that the high interest rates of commercial banks were impeding private sector engagement.

Source: News Business Ethiopia March 23, 2019 09:35 UTC