African ministers in favour of Green Fund
19 October 2010
Several African ministers have backed the idea of the creation of an African Green Fund.
The scheme has been proposed by the African Development Bank (AfDB) and it would be set up to give money for infrastructure projects that would assist climate-resilience and low-carbon development in the continent.
Fredo Much, Uganda's state minister for finance, said: "We welcome the fund in Uganda. This fund was needed yesterday, not today."
Anthony Nyong, AfDB compliance and safeguards manager, wants to make sure the area can get access to as much money as possible.
As it stands, countries such as Mexico, Brazil and China have hundreds of programmes involved in the Kyoto Protocol's Clean Development Mechanism, whereas Africa only has a handful of schemes.
Malawi, Kenya and Zimbabwe are among the other countries in favour of the setting up the African Green Fund.
The World Bank recently approved giving an extra $15 million (£9.37 million) to the Road Rehabilitation and Maintenance Project in Zambia.