The so-called climate adaptation country compacts are meant to outline adaptation investment opportunities, financing needs and fund mobilization plans, the $25 billion initiative said in a statement late Tuesday. The AAAP is run by the Rotterdam-based Global Center on Adaptation and the Abidjan-based African Development Bank.
The compacts “are a vital country-led tool that address the support the Africa Adaptation Acceleration Program” needs, said Ban Ki-Moon, former secretary-general of the United Nations and chairman of the GCA’s supervisory board, at a presentation in Nairobi, Kenya. “Droughts and floods are becoming more frequent and more intense.”
The first seven countries to submit their compacts and to seek funding are Nigeria, Senegal, Tanzania, Equatorial Guinea, Kenya, Congo Republic and Mozambique.