The European Investment Bank (EIB) and the Global Centre on Adaptation (GCA) have announced plans to collaborate on accelerating action on climate change adaptation.
They have identified various focus areas of collaboration: financing adaptation solutions, supporting knowledge, tolls and capacity-building on adaptation and sharing best practices and data.
They recognise the urgent need to mobilise action in global regions that are particularly vulnerable to the impacts of climate change, such as the African continent, where the EIB and GCA aim to collaborate on the Africa Adaptation Acceleration Programme (AAAP) – an initiative to scale up adaptation action in Africa by mobilising $25 million (£18.2m)
The organisations will also work closely with the African Development Bank (AfDB) and other multilateral development banks as well as international financial institutions, aiming to provide financing for projects that full under the AAAP’s pillars.
That includes infrastructure resilience, youth empowerment through jobs and entrepreneurship and climate-smart digital technologies for agriculture and food security.
GCA CEO Professor Patrick Verkooijen said: “Working alongside the European Investment Bank on our common goal of accelerating global climate adaptation action represents an outstanding opportunity to combine our resources to safeguard our planet and future generations against the impacts of climate change.”