In this session held thanks to the Energy, Environment and the Climate Change Department of the African Development Bank, two Club de Madrid Members, former Pres. Mogae from Botswana, and former Pres. Mkapa from Tanzania have stated that Africa needs to get green. It has been clear that there are many projects to invest on to ensure that green growth is implemented in Africa; nevertheless the problem is how to ensure that the available funds reach to the projects to ensure that solutions are in place now.
In this regard, the Club de Madrid and the P80 Group Foundation are working to mobilize the political will that is needed to put in place the different vehicles that will allow pension and sovereign wealth funds invest in green technologies. The African Development Bank Group used this event opportunity to present the Africa50Fund, a new initiative that will be a vehicle to provide funds to the transformation projects in the continent.
Club de Madrid Members concluded the session with a strong statement “development must not threat sustainability, they are not contradictory concepts”.