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Browsing: Private sector financing
- This climate finance deficit presents a pressing challenge to Africa, as it directly affects the continent’s capacity to address critical climate-related issues.
- African governments must adopt innovative financing opportunities that blend public and private partnerships.
- Leaders from Africa, the Republic of Korea, and the Global Green Growth Institute (GGGI) have jointly called for more collaboration and cooperation to bridge the climate finance gap
Climate finance
The climate finance gap has been a persistent topic of climate change discussions for the longest time. Despite a financing need exceeding $3 trillion by 2030, the continent receives merely about a 10th of its climate finance need, representing less than 5.5 per cent of the total global climate finance. This gap is felt especially keenly in countries like Uganda, which, despite being one of the many African countries committed to Nationally Determined Contributions (NDCs), experiences a distinct lack of climate funding.
According to the …