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.
The seminar will be held at NUPI from 10:00 to 11:30, and we will also stream the event live to our YouTube channel (no registration needed for digital participation).
10:00-10:05: Welcome by NUPI
10:05-10:10 Welcome by State Secretary Ms Bjørg Sandkjær
10:10-10:25: Presentation of the African Economic Outlook for 2023 by Prof. Kevin Chika Urama
10:30-11:30: Panel discussion + Q&A