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17: the number of developing and emerging countries, primarily in Africa, set to benefit from the “Transforming Financial Systems for Climate” programme.

At the One Planet Summit 2 in New York in September 2018, French President Emmanuel Macron committed to implementing the Paris Agreement by redirecting more local funds to invest in low-carbon and climate-resilient development. Encouraging local financial institutions to change their funding practices in favour of supporting the fight against climate change is now vitally important.

The “Transforming Financial Systems for Climate” programme, which AFD launched one month later, is a concrete expression of this commitment. The programme is worth over US $750 million (including a US $280 million contribution from the Green Climate Fund) and is expected to benefit local financial institutions (commercial banks, government-owned banks, microfinance institutions) in 17 countries,  including 16 African countries (Benin, Burkina Faso, Cameroon, Côte d'Ivoire, Egypt, Kenya, Madagascar, Mauritius, Morocco, Namibia, Senegal, South Africa, Tanzania, Togo and Uganda) as well as Ecuador.

Further reading:

Six Things You Should Know About the One Planet Summit in Nairobi

Fighting Poverty with Tea in Laos

Mauritius: From Green Finance to Gender Equality

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