US President Joe Biden has announced the sum of $150 million dollars to accelerate climate adaptation initiatives in Africa.
He said this on Friday while delivering a national statement at the ongoing COP27 in Egypt.
Biden said African cities and communities that are hardest hit by the climate crisis do not have the resources to adapt.
He noted that his administration has doubled its adaptation pledge, adding that if countries can finance coal in developing countries, they can also finance clean energy in those countries.
The US president stated that his country will make sure that every dollar delivered goes as far as possible in unlocking larger pools of financing and the trillions in private investment that is needed.
“So many disasters, climate crisis, the city and hardest hit countries and communities that have the fewest resources to respond and to recover. That’s why last year I committed to working with our congress to quadruple US support to climate finance and provide $11 billion annually by 2024, including $3 billion for adaptation,” Biden said.
“Today, as a down payment, we’re announcing more than $150 million in initiatives that will specifically support and prepare adaptation efforts throughout Africa, including adaptation and African efforts that Egypt and the United States launched together in June.