Nightlife

Tag: Ivory Coast

  • World Environment Day: Host Cote d’Ivoire, Africa Development Bank urge collective action to end plastic pollution

    The Bank co-organized this year’s commemoration event with the Ivorian Ministry of Environment and Sustainable Development, the United Nations Environment Programme (UNEP), and the Netherlands
     
    ABIDJAN, Ivory Coast, June 9, 2023/ — Cote d’Ivoire hosted the 50th anniversary of World Environment Day (https://apo-opa.info/3MYYnjN) on the 5th of June 2023, with the African Development Bank (www.AfDB.org) as a core partner for the annual event.

    The Bank co-organized this year’s commemoration event with the Ivorian Ministry of Environment and Sustainable Development, the United Nations Environment Programme (UNEP), and the Netherlands.

    Under the theme, ‘Solutions to Plastic Pollution,’ the event rallied more than 300 people to discuss why Africa should shift towards the circular economy and what the opportunities are.

    Jean-Luc Assi, Côte d’Ivoire’s Minister of Environment and Sustainable Development, restated her country’s ban on the production, import and marketing, possession and use of plastic bags. He said the ban has encouraged businesses to switch to reusable and biodegradable packaging.

    “They are being encouraged. So, let’s all be aware of the need to combat plastic pollution. Let’s act now and all say stop to plastic pollution,” Minister Assi stressed.

    Inger Andersen, UNEP Executive Director, said acting together to end plastic pollution is a major opportunity – particularly for developing countries.

    She said: “If we act with unity of purpose, we can eliminate plastic pollution by 2040. Reduce social, environmental and human health costs. Create hundreds of thousands of new jobs, mainly in developing countries, and new markets and business opportunities.”

    Kevin Kariuki, African Development Bank’s Vice President for Power, Energy, Climate and Green Growth, urged collective efforts in exploring workable solutions to sustainably address plastic pollution, “one of the most pressing global environmental issues of our time.”

    He said the African Development Bank, as the driver of Africa’s development agenda, is well-positioned in promoting initiatives against the continent’s environmental challenges.

    The Bank is implementing programs and special initiatives that contribute to environmental management and sustainability. Two of these are the African Circular Economy Alliance (ACEA) (https://apo-opa.info/3J2U2e9) and the Africa Circular Economy Facility (ACEF) (https://apo-opa.info/3WXU3FW), which aim to promote circularity and sound management of waste – including plastic – in Africa.

    During a panel, Rose Mwebaza, Director of UNEP’s Africa Office, noted that there is no single solution to the plastic pollution crisis.

    “The good news is that all the technological solutions needed have already been invented, with a wave of innovative companies and forward-looking governments joining forces to make plastic pollution history,” she said.

    The African Development Bank led the organization of the Forum of Solutions to Plastic Pollution to help companies to stop plastic pollution in Africa.

    “The solutions already exist,” said Al Hamndou Dorsouma, the Bank’s Climate and Green Growth Manager. “We don’t have excuses! Africa should move to Circular Economy. The future is circular.”
    Distributed by APO Group on behalf of African Development Bank Group (AfDB).
     

  • Benin, Côte d’Ivoire to premier African Development Bank’s African Green Bank facilities

    The African Green Bank initiative was conceived as part of measures to facilitate access to global finance from the current 3% to 10% annually by 2030
    ABIDJAN, Ivory Coast, May 15, 2023/ — The African Development Bank (www.AfDB.org) is set to roll out the first green finance facilities in two public financial institutions in Benin and Côte d’Ivoire as part of its ground-breaking African Green Bank initiative. The host institutions are La Caisse des Dépôts et Consignations du Bénin (CDC Benin) and the Ivorian National Investment Bank (BNI).

    As Africa’s premier development finance institution, the African Development Bank does not only provide fiscal resources to its regional member countries; it also galvanizes global support in promoting resilient, green, and sustainable growth.

    It launched the African Green Bank Initiative in November last year to support the implementation of African countries’ Nationally Determined Contributions (NDCs).

    African countries still face significant challenges in financing their climate transition. While investment needs resulting from NDCs are estimated at $2.8 trillion by 2030, funds invested on the continent still represent a limited share of global green finance flows, and the share covered by the private sector remains limited.

    The African Green Bank initiative was conceived as part of measures to facilitate access to global finance from the current 3% to 10% annually by 2030.

    The Initiative followed an assessment by the African Development Bank and the Climate Investment Funds in six African countries; Benin, Ghana, Mozambique, Tunisia, Uganda, and Zambia.

    The assessment revealed that green banks have significant potential for attracting new sources of catalytic funds when supporting low-carbon, climate-resilient development through blending capital and mobilizing local private investment for green investments in Africa.

    Bank vice president for Energy, Power, Climate and Green Growth, Kevin Kariuki, noted: “The African Green Bank Initiative is a powerful tool for reducing financing costs and mobilizing private sector investments in climate action in Africa.”

    The Initiative would bolster the capacity of local financial institutions to build a robust pipeline of bankable green projects while de-risking investments and entrenching long-term investor confidence toward climate-resilient and low-carbon projects in Africa.

    According to African Development Bank Vice President for Private Sector, Infrastructure and Industrialization, Solomon Quaynor, “this technical assistance will enhance local financial institutions’ climate governance, green projects’ origination and monitoring which is therefore key to attract private capital by entrenching long-term investor confidence.”

    Audrey-Cynthia Yamadjako, the Initiative’s coordinator, said some $1.6 million had already been secured to create the first two facilities. She said green finance facilities, newly created or hosted in existing financial institutions, are “the solution to bring private finance at scale in climate action.”

    Climate Investment Funds, a major global climate finance mechanism, Canada Climate Action Africa, the Green Bank Network, and the European asset management firm, Amundi support the initiative.

    Amundi backs the Initiative through technical assistance activities, including training green facilities’ management and investment teams. Amundi will also mobilize its investment vehicles dedicated to sustainable development in emerging markets and developing economies to support green facilities’ capitalization and thus participate in developing green investments across the continent.

    Distributed by APO Group on behalf of African Development Bank Group (AfDB).

    SOURCE
    African Development Bank Group (AfDB)