The Africa Adaptation Acceleration Program(AAAP) received the “Best Investable NDC Adaptation Investment Initiative of the Year” award, at the 2024 African NDC Investment Awards, this week.
The AAAP invested about $5.5 million, to support 41 young climate innovators in 20 African countries.
Accepting the award, Professor Anthony Nyong, the Bank’s Director for Climate Change and Green Growth, said: “This recognition is a testament to the incredible impact the Africa Adaptation Acceleration Program is having across the continent. We are not only on track to meet our financial commitments, but we are also transforming lives through resilient infrastructure, food security, and youth entrepreneurship. Together with our partners, we are driving real change and positioning Africa at the forefront of global climate adaptation efforts.”
Launched by the African Development Bank and the Global Center on Adaptation in 2021, the AAAP plans to mobilize an amount of $25 billion by 2025, to drive transformative climate adaptation actions across Africa.
The Bank has committed $12.5 billion, thus far, and successfully raised $9.22 at the end of 2023.