It is estimated that trillions of dollars are needed by 2030 to implement Africa’s climate commitments as expressed in countries´ recently submitted Nationally Determined Contributions (NDCs). The funds needed far exceeds development aid budgets, and there is an increasing concern that the financing of climate action in developed countries will divert development aid from other pressing development needs.
This year’s African report makes a strong case for private sector financing. In this seminar Prof. Kevin Chika Urama, Chief Economist and Vice President of the African Development Bank, will present the African Economic Outlook for 2023, and we will have a panel discussion based on his presentation.
We will discuss how the approach with strong private sector financing corresponds with ongoing discussions on climate finance and official development assistance in Norway. We will also take a critical look at the ongoing global and Norwegian efforts to set up climate finance structures and reforming development aid.
In the panel:
Kevin Chika Urama, Chief Economist and Vice President, African Development Bank.
Ellen Cathrine Rasmussen, Executive Vice President, Norfund.
Hans Olav Kvalvaag, CEO, Release by Scatec
Dan Banik, Professor, University of Oslo
Moderator is Ida Dokk Smith, Senior Research Fellow, NUPI
