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Mobilising private finance for green economic development in Sub-Saharan Africa

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  • Judith Tyson

    (Overseas Development Institute (ODI))

Abstract

The financing needs of developing countries are greater than ever given the need to finance inclusive economic development and climate adaptation and mitigation. But estimates of the financing gap for the sub-Saharan African region alone was that $4 trillion more financing is needed by 2030 and that 70% of this is currently unfunded. (African Development Bank, 2023). Closing this gap is both the most urgent and most difficult for sub-Saharan Africa because the region is already being badly affected by climate change and, according to the 2023 6th Report by the International Panel on Climate Change, it is also the region most at risk for highly adverse effects given that the target of limiting temperature changes globally to 1.5 degrees is unlikely to be met.

Suggested Citation

  • Judith Tyson, 2023. "Mobilising private finance for green economic development in Sub-Saharan Africa," Development Finance Agenda, Chartered Institute of Development Finance, vol. 8(6), pages 10-11.
    • Handle: RePEc:afj:journ4:v:8:y:2023:i:6:p:10-11
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    File URL: https://journals.co.za/doi/abs/10.10520/ejc-defa_v8_n6_a3
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