NDF - Financing for climate change and development projects

AfDB President visits NDF

Photo: the President of the AfDB, Akinwumi Adesina and Managing Director of NDF, Pasi Hellman

June 9 - NDF hosted the President of the African Development Bank (AfDB), Akinwumi Adesina, and a senior AfDB delegation for discussions on climate finance cooperation around the President’s High 5s agenda.

NDF and the AfDB have a track record of nearly 25 years of co-finance and collaboration. The visit by Mr. Adesina testified to the long standing partnership between the two institutions and the promise of continued and strengthened efforts in the years to come.

In 2013, NDF and the AfDB renewed their co-finance cooperation agreement to emphasize the NDF focus on climate. Since then, NDF has committed over €30 million to 7 different Bank-led operations in sectors ranging from climate resilient transport to climate smart agriculture and preparation of climate resilient projects in the water sector.

NDF Managing Director, Pasi Hellman opened the meeting by expressing NDF’s appreciation to the AfDB and President Adesina, in particular, for “strong leadership in promoting climate resilience, green growth and sustainable development in Africa.” He shared a brief overview of the history of cooperation between the two institutions, noting the strong growth in co-finance in recent years.

President Adesina warmly thanked NDF for the constructive partnership, describing NDF as a “key partner to the Bank” and emphasizing the Bank’s commitment that “the partnership continues to grow.”

Discussions focused on concrete opportunities in areas including climate resilient transport, urban development and resilient cities and renewable energy to connect NDF’s climate support to the President’s High 5s agenda.

NDF already has joint activities with the Bank linked to each of the High 5 priority areas - Light up and power Africa, Feed Africa, Industrialize Africa, Integrate Africa and Improve the quality of life for the people of Africa - and both sides agreed that still more can be done.