ADF grants $4.3m to integrate natural capital into development financing in 13 African countries

With in-kind contributions from partner institutions such as the World Wildlife Fund (WWF), the German public agency for international cooperation on sustainable development (GIZ), the African Union Development Agency—New Partnership for Africa’s Development, the Economic Commission for Africa and the United Nations Environment Programme, the project aims to foster an environment conducive to better utilization of natural capital and its integration into political and financial decision-making processes.

The strategy aims to strengthen policy-making systems, statistical systems, institutional frameworks, and knowledge-generation mechanisms needed by the regional member countries participating in the project and the African Development Bank Group to assess natural capital and incorporate it into public policy-making.

Innocent Onah, Chief Natural Resources Officer at the African Development Bank Group said: “This project is intended to contribute to development that is resilient to the effects of climate change, nature-friendly, and inclusive, by enabling African countries to better identify, measure, and manage their natural wealth, while strengthening the evidence base that informs development financing, dialogue on sovereign policies, and the mobilization of green investments.