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    “A new platform to represent Botswana,” says Amos on his coaching role in Iran

    “A new platform to represent Botswana,” says Amos on his coaching role in Iran

    Karateka targets international titles

    Botswana gears up for high-stakes Gabs Open karate showdown

    Orange Botswana Awards P390,000 to Historic 4x400m Relay Champions, Coaches & BAA

    Orange Botswana Awards P390,000 to Historic 4x400m Relay Champions, Coaches & BAA

    Eppie’s breakthrough hints at a brighter future for Botswana’s 400m

    Eppie’s breakthrough hints at a brighter future for Botswana’s 400m

    Under Babitseng BFA will be transparent and accountable

    BFA slashes deficit and eyes bright future with financial reform and football revival

    Sports chief raises alarm over doping spike amid Region 5 triumph

    Sports chief raises alarm over doping spike amid Region 5 triumph

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Africa: AU demands more for climate financing

mm by RMB Africa Research
September 11, 2023
in News
Reading Time: 1 min read
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Africa: AU demands more for climate financing

What is the African Union (AU)

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AFRICA: To combat the climate crisis, the African Union (AU) proposed that the International Monetary Fund (IMF) consider issuing US$650 billion in special drawing rights (SDRs).

The 55-member group demanded that at least US$100 billion in existing SDRs be channelled to Africa through institutions such as the African Development Bank, with a group of donors to be established by the time the COP28 climate summit starts on 30 November 2023.

This updated list of demands is stronger than the initial announcement on 7 September in Kenya, which focused on debt relief and climate finance to fund renewable energy. The AU’s stronger demands come as Africa is the most affected by climate change, yet it barely contributes to the greenhouse gas emissions causing climate change. Other changes from the earlier declaration include the mobilisation of US$30 billion to invest in water projects by 2030, drawing attention to the “inordinate borrowing costs” levied on poor nations (a root cause of recurring debt crises) and a revaluation of the GDP of Africa to reflect its natural capital such as carbon sinks in forests. (Bloomberg)

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