Over $3 billion has been pledged to support 63 low-carbon projects aimed at protecting and restoring the Congo Basin, one of the world’s largest ecological lungs.
Over $3 billion has been pledged to support 63 low-carbon projects aimed at protecting and restoring the Congo Basin, one of the world’s largest ecological lungs, which holds over $23 trillion in untapped value.
The commitments were announced on the sidelines of the African Development Bank Group’s Annual Meetings, under the framework of the Congo Basin Blue Fund.
Congolese President Denis Sassou N’Guesso, who also chairs the Congo Basin Climate Commission, said the pledges mark a major step toward fulfilling the fund’s mandate. The regional initiative, backed by the African Union, seeks to mobilise financing for climate action and blue economy projects across Central Africa.
The Blue Fund has set a broader target of $5.72 billion to finance 70 priority projects across member states.
