The African Development Bank Group (AFDB) annual meetings 2023, which will be held from 22 to 26 May in Sharm El-Sheikh, will explore innovative approaches to boost private sector finance for climate action on the African continent. The upcoming annual meeting will further host a session to explore how to mobilise more private sector financing to tackle climate change in Africa, including domestic natural capital. The delegates will consider green financing tools such as green bonds, sustainable bonds, social bonds, sustainability loans and debt-nature or debt-climate swap, according to AFDB's statement. The statement further added that the participants will discuss national and international levers to overcome obstacles to implementing such instruments. However, the AFDB aims to promote the development of innovative financial instruments to support climate investment and green growth while ensuring a fairer distribution of resources across Africa. This flagship event will bring together entrepreneurs, pension and private equity fund managers, financiers and government representatives to discuss different instruments and how to deploy them on a large scale on the continent.
