World Bank and ADB Provide $200M Climate Change Fund for Nigeria and S/Africa

Started by naos, Oct 20, 2009, 07:55 PM


The World Bank and African Development Bank (ADB) have agreed to provide $200 million to Nigeria and South Africa as clean technology fund. The fund is aimed at promoting initiatives on low carbon economy through the development of clean technology in both countries. The initiative is aimed at enhancing climate change adaptation by providing about 30% of investment requirements for clean development projects. Meanwhile, the Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Meteorological Agency (NIMET) and University of Ife have disclosed plan to collaborate on the establishment of climate observatory centres across the country.