The One Planet Summit which took place online on January 11th, 2021 was the springboard for Agence Française de Développement (AFD) to announce its new plan in favor of biodiversity. Within the framework of this programme which comes to an end in 2025, the French financial institution will invest one billion euros for the preservation of biodiversity on the planet. Africa will be one of the main beneficiaries of this plan as AFD plans to allocate 600 million dollars to the Great Green Wall initiative. Financing nature-based solutionsWith its 600-million-euro pledge, AFD joins the African Development Bank (AfDB) which wants to finance the Great Green Wall initiative to the tune of 6.5 billion dollars over 5 years. “The urban, mobility and energy sectors, as well as the financial sector, will also have to mobilize part of their climate financing with explicit biodiversity objectives”, AFD adds.

Source: The North Africa Journal January 13, 2021 12:00 UTC