Amidst rapidly escalating climate crises, there is an urgent need to enable African countries to remodel existing financial infrastructure with the aim of strengthening climate resilience and developing green infrastructure. As the world scrambles towards decarbonisation, the G20 nations, which represent the largest source of wealth, with 85 percent of global GDP, are well equipped to support vulnerable countries. This Policy Brief proposes three mechanisms whereby the G20 can support African countries: providing grant funding and technical assistance to the Programme for Infrastructure Development for Africa (PIDA) to increase the number of high-quality bankable projects and mobilise financiers; strengthening the coordination of climate financing from the G20 countries to the continent; and unlocking financial technology and entrepreneurship to mobilise financing for bankable projects. This Brief further recommends that the G20 should use its technical capacity, financial muscle, and convening power to put African countries on the path towards climate resilience.
Register for Updates
Would you like to receive updates on the Global Solutions Initiative, upcoming events, G7 and G20-related developments and the future of multilateralism? Then subscribe here!
1 You hereby agree that the personal data provided may be used for the purpose of updates on the Global Solutions Initiative by the Global Solutions Initiative Foundation gemeinnützige GmbH. Your consent is revocable at any time (by e-mail to contact@global-solutions-initiative.org or to the contact data given in the imprint). The update is sent in accordance with the privacy policy and to advertise the Global Solutions Initiative’s own products and services.