• Privacy Policy
  • Terms
  • About us
  • Contact Us
Wednesday, March 29, 2023
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

U.S provides $5m grant to AfDB

AfDB

The Matters Press by The Matters Press
September 16, 2022
Reading Time: 2 mins read
0
Swiss Bank expects profit of $50bn

The U.S government says it will provide a five-million-dollar grant to the African Development Bank (AfDB) to support efforts to reduce methane gas emission across Africa.

RELATED POSTS

NLC, TUC concede two weeks to CBN to end cash crunch

Alibaba Group to split into 6 business units

Stock market dips by 1.2% amid profit-taking

U.S. Special Presidential envoy for climate, Mr John Kerry made the announcement at a breakfast event held on the sideline of the ongoing 18th African Ministerial Conference on the Environment (AMCEN) being held in Dakar, Senegal.

This is according to a statement from the Communication and External Relations Department of AfDB on Thursday.

The conference which began on Sept. 12, and would end on Sept. 16, has as its theme “Securing People’s Well-being and Ensuring Environmental Sustainability in Africa”.

According to the statement, methane accounts for about half of the net rise in global average temperature since the pre-industrial era.

ALSO READ  AfDB, Monetary Union sign grant agreement of $750,000

Kerry said more than 25 countries on the continent had joined the Global Methane Pledge, “a resounding level of support for the importance of methane in keeping 1.5 degrees within reach”.

“I am very pleased that AfDB is responding to the increased global attention on methane emissions and is planning to increase their own focus on methane abatement in coming years,” he added.

The Global Methane pledge, inaugurated during COP26, targets reducing emissions of methane by at least 30 per cent from 2020 levels over the next seven years.

Welcoming the contributions, AfDB Vice President for Power, Energy, Climate and Green Growth, Mr Kevin Kariuki said the bank planned to create activities within the Africa Climate Change Fund (ACCF) to support methane reduction.

ALSO READ  AfDB signs $50m credit agreement with FCMB

“With the support of the U.S. government, and other donors and non-state actors, we intend to create a dedicated pillar of activities within our Africa Climate Change Fund.

“To support methane abatement including working with countries to include methane in their Nationally Defined Contributions and develop pipelines of methane abatement projects for further investment.

“This will provide an excellent foundation for increased focus on methane emissions,” Kariuki said.

The AfDB would be releasing a methane baseline reporting covering waste and energy sector methane emissions across Africa at the forthcoming COP27 in Sharm El Sheikh, Egypt.

The grant, subject to the completion of U.S. domestic procedures and approvals, would go to the multi-donor ACCF, which is managed by the bank.

The fund supports a broad range of activities covering climate resilience and low-carbon growth.

ALSO READ  65% of alcohol manufacturers not registered

Additional funding was also promised by the Climate and Clean Air Coalition (CCAC) and the Global Methane Hub to tackle methane emissions in African countries.

The Global Methane Hub would contribute five million dollars over the next three years.

The hub funds methane mitigation efforts.

The coalition, a voluntary partnership of governments, intergovernmental organisations, businesses, and research institutions, would provide 1.2 million dollars.

The five-day 18th Session of AMCEN ends on Friday and is organised by the United Nations Environment Programme.

It provides African environment ministers a forum to offer policy guidance that will contribute to strengthening Africa’s voice at the COP27.

The ACCF was established in April 2014 to support African countries in building their resilience to the negative impacts of climate change and in transitioning to sustainable low-carbon growth.

Tags: AfDB
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

New Naira notes unavailable even as CBN campaigns for acceptance
Economy/Technology

NLC, TUC concede two weeks to CBN to end cash crunch

March 29, 2023
Alibaba Group to split into 6 business units
Economy/Technology

Alibaba Group to split into 6 business units

March 29, 2023
Trading in Nigerian stock market dips further N83bn
Economy/Technology

Stock market dips by 1.2% amid profit-taking

March 29, 2023
Cash, petrol scarcity create food crisis in Nigeria
Agriculture

Domestic food prices remain high- World Bank

March 28, 2023
“Naira-4-Dollar” getting results
Economy/Technology

Naira drops to N461.50 against dollar

March 28, 2023
Nigeria’s N17.1trn budget to gets presidential accent on Friday
Economy/Technology

Senate passes bills to extend implementation of 2022 budget

March 28, 2023
Next Post
Vulnerable Nigerian farmers to get $1m grant

Agriculture high in nation building survey- minister

Nigeria targets $1.2bn export capacity for every state

Nigeria receives recommendations to stop rejection of agro export commodities

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

Buhari receives report on COVID-19

Buhari receives report on COVID-19

March 28, 2020
Nigeria gets petroleum law to edge out 50 years archaic laws

Buhari stops monopoly of Electricity, Railway

March 18, 2023
China’s trade surplus with U.S dips

Nigeria’s imports from China hits N19trn

December 28, 2021

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • NLC, TUC concede two weeks to CBN to end cash crunch
  • Alibaba Group to split into 6 business units
  • Stock market dips by 1.2% amid profit-taking

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2022 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2022 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?