(Bloomberg) -- The African Development Bank began publishing detailed country reports to help the continent’s nations transition their economies away from fossil fuels and capitalize on green industrial opportunities.
The reports are intended to “evoke sound, practical and implementable policies to enhance private sector financing for climate change and green growth,” Kevin Urama, chief economist of the Abidjan-based multilateral development bank, said in a statement on Thursday.
Nigeria, Africa’s biggest economy, should do more to fund mining of minerals needed for the green transition, address gas flaring and find ways to fund solar mini-grids to improve rural access to electricity, the bank said in its report on the country.
South Africa, the continent’s most industrialized nation, will need 8.9 trillion rand ($467 billion) for its climate needs, the AfDB said, without providing specifics.
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