The Development Bank of Southern Africa (DBSA) has urged other development finance institutions to advance infrastructure solutions that integrate climate resilience and sustainable development in Africa and other developing nations.
This comes as Africa and Asia bear the brunt of climate impacts like droughts and floods, yet the financial resources required to adapt existing infrastructure are woefully insufficient.
These regions are among the hardest hit by climate change. Prolonged droughts, rising sea levels, and devastating floods are wreaking havoc on economies and communities, disrupting livelihoods and threatening food security.
According to the United Nations Environment Programme, Africa alone requires up to $100 billion annually by 2030 for climate adaptation, while many Asian nations face similarly staggering funding gaps.
DBSA CEO, Boitumelo Mosako, said the absence of a cohesive climate finance framework to address the unique challenges of these regions has exacerbated their vulnerability.
Mosako said that without access to sustainable financing mechanisms, many countries were unable to fortify infrastructure against increasingly erratic weather patterns.
As a result, the DBSA is hosting the Finance in Common Summit (FiCS) next month, in collaboration with the Asian Infrastructure Investment Bank (AIIB), and Agence Française de Développement (AFD).
The summit will serve as a platform to advance infrastructure solutions that integrate climate resilience and sustainable development.
“In regions like Africa and developing Asia, the impact of climate change is magnified by the lack of resources to adapt,” Mosako said.
“FiCS 2025 is an opportunity to reimagine climate finance as a tool for empowerment, fostering a unified approach to address climate damage and drive inclusive economic growth.”
The summit is poised to address issues related to building resilient infrastructure to combat the devastating impacts of climate change.
Public Development Banks (PDBs) and their global partners will gather to drive innovative solutions that ensure no region is left behind, with a particular focus on Africa and developing Asian nations.
Mosako said Africa and Asia have already demonstrated the potential for transformative change through targeted initiatives.
For instance, the Africa Adaptation Acceleration Program (AAAP) has mobilised $25bn to support projects in water management, agriculture, and renewable energy.
Similarly, she said that climate finance projects in Southeast Asia have advanced coastal defences and renewable energy solutions. The lack of a cohesive climate finance conversation has left vulnerable regions grappling with disparate solutions.
FiCS 2025 seeks to bridge this gap by uniting stakeholders to design a financial architecture that addresses the systemic challenges of climate change. By focusing on collaboration, the summit can lay the groundwork for a more inclusive and resilient global economy.
Against the backdrop of South Africa’s G20 presidency, the summit underscores the critical role of PDBs in shaping the future of climate finance. As custodians of development and sustainability, these banks are uniquely positioned to catalyse the systemic change required to mitigate climate risks and unlock new opportunities for growth.
In previous years, FiCS has facilitated projects that have transformed communities, including renewable energy advancements in Indonesia, sustainable agriculture in Kenya, and flood resilience in Brazil. These examples highlight the potential for collaboration to drive real-world impact, particularly in regions where climate vulnerability intersects with economic inequality.
FiCS 2025 will champion actionable solutions, emphasising that resilience is not just about survival but about creating pathways to thrive in a changing climate. By addressing the structural barriers to climate finance, the summit will empower nations to build back better, ensuring a secure and sustainable future for generations to come.
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