Under the Room to Run Sovereign (R2RS) transaction, four African countries have unlocked much-needed climate financing totalling more than $400 million thanks to loan guarantees provided by the United Kingdom (UK) government. The loan guarantees will help Benin, Kenya, Mauritius and Tunisia enhance the reliability of their national grids and strengthen the countries’ resilience to climate change. By providing these loan guarantees, the UK unlocked additional funding towards this initiative. Climate change makes it even more difficult to achieve the Sustainable Development Goals. “The UK has ambitious plans to build resilience to climate change globally, supporting climate-vulnerable countries such as Benin.

Source: The North Africa Journal January 26, 2024 14:09 UTC