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UN Agency Launches Initiatives To Allow African Countries Invest In Building Climate Resilience

From Dare Akogun, Egypt

The United Nations Economic Commission for Africa has launched an Initiative “Reducing the Cost of Green and Sustainable Borrowing” in climate-vulnerable countries at today at the ongoing COP27.

The initiative which is aimed at addressing the larger issues of deteriorating fiscal health under threat by potential output losses linked to climate hazards and disaster recovery costs, as well as transition risks that may hit the economy at large.

Egyptian Foreign Minister Sameh Shoukry while speaking at the event said liquidity constraints remain some of the foremost barriers to allow African countries to invest towards climate resilience and the Sustainable Development Goals.

This initiative according to him will help build deeper, resilient, and sustainable financing to accelerate its post-Covid green recovery through various mechanisms.

“The focus will be on Green and Social and Sustainable (GSS) Bonds to fill the SDG financial gaps. There is a need for climate action to reduce poverty and promote shared prosperity in a sustainable manner.

“This initiative will strengthen the ability of African states to borrow at an affordable rate, mobilize more green funding, and attract private capital,” he said.

Dare Akogun

Dare Akogun is a dynamic media innovator, strategic communication professional, and seasoned climate and environmental sustainability journalist with over 10 years of influential contributions to the media industry.

He Currently serving as the Head of Digital Media, Senior News Editor, and a presenter at Sobi FM 101.9, a leading radio station in Ilorin, Nigeria.

Dare is on a mission to leverage his media innovation expertise and project management skills to produce high-quality, accurate, and engaging content, while advocating for reduced fossil fuel consumption, especially coal, to combat effect of global warming.

He has covered comprehensively environmental issues and COP conferences, including COP28 in Dubai last year , COP 27 in Egypt, and the United Nations Least Developed Countries conference in Doha, in 2023.

He is a recipient of fellowship to be part of a 15 team of journalists selected worldwide to cover the Berlin Energy Transition Dialogue 2024.

He has a Master's Degree in Mass Communication, from the University of Lagos, a Bachelor's Degree in Journalism from the Lagos State University and also a
Certification in Business Administration and Management, from the Babson College, Massachusetts, United States of America.

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