The African Development Bank (www.AfDB.org) and the United Kingdom have announced the selection of the Inclusive and Sustainable Development of the Cereal Sector Project in Tunisia, as a standard-setting project under the Room to Run Sovereign transaction (R2RS) (https://apo-opa.co/3U3D0CP). Approved in July 2023, this cereal sector project in Tunisia will strengthen the resilience of the cereals sector to external shocks and climate change. The project will benefit up to 250,000 cereal farmers in the country, boosting their food security and self-sufficiency. Room to Run Sovereign, announced at COP26 in November 2021, is an innovative and highly scalable balance sheet optimization transaction that is helping the African Development Bank lend more funding for critical climate change projects. African Development Bank Vice-President for Power, Energy, Climate and Green Growth, Kevin Kariuki said,“This transaction is one of several projects constituting its lending programme through which the African Development Bank fulfils the call by stakeholders at COP27 for MDBs to innovate and scale up climate finance through the Multilateral Development Banks.

Source: The North Africa Journal January 19, 2024 20:30 UTC