Due to climate change, AfDB says Africa loses between $7 billion and $15 billion annually.
A statement by the IMF on Friday said the collaboration would provide critical support for countries’ climate strategies through an integrated, country-led approach.
“You have people cooking the books that are in the financial industry in Europe, not in Africa,” according to the AfDB president.
The combination of climate shocks, COVID-19 pandemic and regional conflicts has disrupted global food production and distribution.
The largest in IMF’s history, the SDR is to help countries recover from the COVID-19 pandemic.
