Source: CEA, 2024

“To attract green finance, Africa needs policy and regulatory frameworks with targets in line with ambitious development,” said Ms Jakarasi. She noted that Zambia and Zimbabwe were already investing in adaptation, and that countries should now set aside budgets to mitigate and adapt to the effects of drought, as a step towards securing international funding.
Green finance, she added, is the new way of mobilizing resources to finance resilience to climate change.
Countries should set up innovative financing mechanisms, such as green bonds through public-private partnerships, to fund their climate change projects and programs. Regarding the role of banks in mobilizing resources for green finance, Nqobizitha Dube, Head of Climate Finance at the Infrastructure Development Bank of Zimbabwe, said that banking institutions should be involved in climate change discussions to enable them to make informed decisions on financing green projects.