NAIROBI, Nov. 25 (Xinhua) -- The African Development Bank (AfDB) will support Kenya's quest for climate financing in order to boost green transition in the country amid extreme weather events.
Kevin Kariuki, Vice President for Power, Energy, Climate & Green Growth at the AfDB said Thursday the lender will support Kenya in creating a favorable environment to mobilize climate finance.
"The bank continues to play a leading role in supporting an African wise initiative to support national domestic resource mobilization through the Africa financial alliance on climate change which was established in 2018," Kariuki said at a climate forum in Makueni, eastern Kenya.
To support Kenya's climate change adaptation, he said the bank will draw on its experience in promoting community resilience through projects such as the small town and rural water supply program implemented in urban centers, said Kariuki.
Kariuki said that AfDB recognized Kenya's leadership on climate action being one of the countries in Africa to enact a comprehensive climate change act and having enacted policies and plans to guide national and sub national governments on climate actions.
"We recognize and support the creation of locally determined contributions that can contribute toward Kenya's nationally determined contribution," said Kariuki.
The AfDB official said county governments have a critical role to play in ensuring budget allocation for climate action in their county integration development plans.
"Considering that climate change is a threat on our planet and mankind, the government of Kenya must be commended for taking bold action to address climate change," he added.
The bank has also supported Kenya to increase its share of electricity generated from renewable energy sources like Lake Turkana.
"The establishment of the emission trading system by the Kenya national treasury is a progressive step for the diversification for financing for a green project," added Kariuki.
This initiative will support Africa's financial sector in creating the necessary infrastructure to mobilize climate flows toward low carbon and climate resilient investment on a broader scale. Enditem
