President William Ruto on Monday presided over the signing of a cooperation agreement between Africa's development finance institutions and commercial banks.
The event was held at the Second Africa Climate Summit, Addis Ababa, Ethiopia.
Ruto said the move helps to advance the climate-positive agenda launched at the inaugural summit in Nairobi two years ago.
“Our financiers committed to mobilise up to $100 billion to power Africa’s green industrialisation driven by our continent’s abundant renewable energy,” he said.
The partners included the African Export-Import Bank (AfreximBank), Africa50, Stanbic Bank Kenya, Equity Group Holdings, Kenya Commercial Bank Group, and Ecobank Transnational Inc.
The
President said that Kenya will host the secretariats of both the Africa Green
Industrialisation Initiative and the Accelerated Partnership for Renewables in
Africa as we continue to champion Africa’s leadership in climate action and
sustainable development.
