Why AfDB is providing climate finance

In a recent opinion article, Danish think tank leader, Bjørn Lomborg, claimed that development institutions are increasingly turning away from poverty-related ills like hunger, infectious diseases, and illiteracy to divert resources to climate policies with “much fewer benefits” instead. In the article, he criticises the African Development Bank (AfDB) for “putting climate policy ahead of core development issues”.

This could not be further from the truth! On the contrary, by attributing more climate finance to its development projects, the AfDB is not only achieving a higher level of sustainable development for the continent, but also safeguarding its past development gains amid the ravages of climate change.