The overarching objective of the African Development Bank (AfDB) Group is to spur sustainable economic development and social progress in its regional member countries (RMCs), thus contributing to poverty reduction.
Since the entry into force of the Paris Agreement in 2016, the African Development Bank Group has increased its climate finance from 9% of its annual investments in 2016 to 34% in 2020. Further, over the last 3 years, the Bank Group has allocated nearly 50% of its climate finance resources to adaptation in 2018, followed by 55% in 2019 and 63% in 2020. Moving forward, the Bank Group will allocate at least 40% of its annual investments as climate finance, and at least 50% of its climate finance resources in adaptation from 2021 to 2025. The African Development Bank Group has committed to commit $25 billion to climate finance by 2025. The African Development Bank together with the Global Center for Adaptation have set the target to also mobilize an additional $12.5 billion in climate finance by 2025.
By enhancing financial institutions’ knowledge of the women’s market and their appetite to lend to women as well as by increasing the bankability of women owned and managed businesses the Bank Group will unlock $3 billion dollars in financing for this market segment by 2026.
Recognizing it will take alignment of all our organizations to scale impact globally, we invite you to join the movement as a Steward of Inclusive Capitalism. Together, the collective action of Council members will contribute to a fairer, more inclusive and sustainable future for all people and our planet.