The African Development Bank (AfDB) Group, African50, and the African Union Commission (AUC) have received commendations for creating the Alliance for Green Infrastructure in Africa (AGIA).
The AfDB in a statement said the commendation came from World leaders, investors, and heads of intergovernmental institutions.
The stakeholders spoke during a presidential dialogue on accelerating investment in green infrastructure in Africa at the Summit for a New Global Financing Pact, in Paris.
Many expressed the commitment to join the $10 billion initiative, which was working with African countries and the private sector to speedily develop green and climate-resilient projects at scale.
Philanthropist Mark Gallogly, co-founder of the Three Cairns Group, announced a 5 million dollar grant for the AGIA.
In his remarks, the Kenyan President, William Ruto expressed Africa’s commitment to working together with industrialised nations to find practical solutions to develop faster and greener.
Ruto said: “We want to be at the table where we are all looking for solutions. That is why we are in this conference.
”We have not come here to complain to anybody. We’ve come here because we want to look for a solution. We want to come up with a win-win.”
Ruto expressed his full support for AGIA and the African Development Bank’s initiatives to fast-track Africa’s development.
Mr. Philippe Valahu, CEO of the UK’s Private Infrastructure Development Group and Emmanuel Moulin, Director-General at the French Treasury during the meeting pledged to join the Alliance.
Other stakeholders who indicated interest to join the Alliance are, Sidi Tah, Head of the Arab Bank for Economic Development in Africa and Serge Ekue, president of the West African Development Bank.
About eight heads of state, heads of international financial institutions, including multilateral development banks, intergovernmental institutions, philanthropists, and global private sector business leaders attended the event.
The AGIA would focus on climate resilient infrastructure on the continent.
