African Carbon Support Project launched
9 November 2010
The African Carbon Support Project has been launched with the help for the African Development Bank (AfDB) and Carbon Limits, which may help tackle the issue of climate change.
It will try to help projects in the continent that are eligible for carbon financing and it has received a grant of $895,633 (£554,000) from the Fund for African Private Sector Assistance.
Alex Rugamba, regional integration department director for the AfDB, noted the agreement will help regional member countries access a greater share of the $2-3 billion per annum currently being traded through the Clean Development Mechanism.
The energy, environment and climate change department of the AfDB will look after the cash received.
There are high hopes for the new programme and Mr Rugamba remarked it is a big day for not only his organisation, but also the land mass of Africa.
It comes after the All-Africa Energy Week was held from November 1st - 5th, which gave officials the chance to discover what infrastructure is required to improve clean energy development.