The 26th Conference of Parties climate summit closed late last week, with few of Africa’s requests present in the conference’s final agreement.
In addition, although developed countries have fallen short of their promise of $100 billion a year of climate financing by 2020 to developing countries, attendees pledged more financing, and the target of $100 billion is now expected to be reached by 2023.
In other climate financing news, on November 13, African Development Bank President Akinwumi Adesina announced a commitment to mobilize $6.5 billion of financing toward the Great Green Wall by the year 2025 during COP26.
As a result, the United Nations predicts 2.4 million people in the northern region of the country will struggle to find food in November, up from an estimate of 1.4 million earlier this year.
Project representatives are also confident that the LSF can obtain some of the $650 billion worth of special drawing rights approved by the International Monetary Fund in August aimed at assisting developing countries to weather the pandemic.
Notably, investment capital has focused on African financial technology, including Chipper Cash, a company that helps consumers send money across borders and raised $150 million in Series C funding this month.
On Monday, November 15, United States Secretary of State Antony J.
On Wednesday, Blinken met with Kenyan President Uhuru Kenyatta, whose country is the only sub-Saharan African nation currently serving on the non-permanent member group of the United Nations Security Council, to discuss the conflict in neighboring Ethiopia and the recent coup in Sudan.
Security was also on the agenda in Nigeria, where Blinken met with Nigerian President Muhammadu Buhari to discuss challenges with Boko Haram.
On Saturday, Blinken will visit Senegal for the last leg of the three-nation African tour.