Africa is losing 5 per cent to 15 per cent of its per capita economic growth due the effects of climate change and is facing a gaping climate finance shortfall, according to the African Development Bank .
African nations received around $18.3 billion in climate finance between 2016 and 2019, Kevin Urama, the AfDB’s acting Chief Economist, said in a statement released on Tuesday. “These sums reflect how the crisis is,” Kelvin Urama said, noting that “Investing in climate adaptation in the context of sustainable development is the best way to cope with the climate change impacts.”
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