- James Intelligently will announce new UK support to the Africa Advancement Fund to tackle environment change, strengthen food safety and boost Africa’s developing economies.
- During a climate reception at the British High Commission the International Secretary will congratulate a winner of the Earthshot Prize, released two years ago by Knight in shining armor William and David Attenborough. He will announce that this UK is supporting brand new re-forestation projects in Kenya through the UK PACT programme with an £3. 8million investment decision.
- The agreement will unlock 0million associated with affordable finance for small and medium enterprises – expected to facilitate up to seventeen, 300 loans for companies across Africa. BII and AGF will each underwrite 25% of the loans.
Arriving in Kenya nowadays (7 December) the International Secretary will also see how the UK’s support is helping to grow Kenya’s green economy. We all hugely value working with our allies and friends across Africa. Such relationships advantage us all. The UK offers honest, reliable investment that does not insert countries with debt, but rather unlocks huge potential for economic growth, while boosting global health and tackling climate modify. The UK will announce new support for the Africa Development Fund (ADF) nowadays to help the poorest towns in Africa grow their particular economies, create jobs and improve healthcare. The UK funding will help deliver electricity for almost 20 million people, improved sanitation for over thirty million people and create more than 2 . 3million new tasks across the continent. The fund supports 37 of the most susceptible countries across the African country. Just one month after the Excellent Minister and President Ruto promised to fast-track eco-friendly British investment, the International Secretary will break floor on the construction of Railway City – Nairobi’s refurbished central station, designed by British architects with the latest green technology. The Kings Cross London-style development, backed by £80m of UK Export Finance, will regenerate Nairobi’s bustling central business region as a green urban environment of the future.
The Foreign Secretary said: The UK can contribute £650million as part of the wider international financing bundle of billion for that ADF over the next 3 years, providing high impact and low-cost finance to Africa’s poorest countries. This includes £200 mil provided to the ADF’s new Climate Action Window that was announced at COP27.
In both countries, the Foreign Admin will meet with key federal government figures where he will reiterate his vision of stronger partnerships between the UK and African countries, built on mutual respect and advantages, and supporting populations in Africa, the UK and above to be more prosperous, much healthier and greener. It really is reflective of the UK’s ongoing support to small businesses in Africa to create jobs and transition to green energy, while helping vulnerable countries to deal with the adverse affects of climate change. The UK is one of the best donors to the Fund. It is expected that results the united kingdom funding will help deliver will include: And ahead of the Railway City launch, the UK’s development finance institution Uk International Investment (BII) will sign a new risk-sharing contract with the African Guarantee Account (AGF), to support green economic development and job creation across Africa. He can break ground on the Railway City regeneration project – a high-tech green advancement, designed by British architects and supported by UK foreign trade finance. The Foreign Secretary can head to Ethiopia on Thursday night 8 November, where he might find first-hand the devastating effects of climate change, turmoil and food insecurity. The International Secretary will confirm the funding in Kenya as a key plank of the UK’s honest, reliable investment offer, on his first visit to Sub-Saharan Africa since becoming the particular Foreign Secretary. The Foreign Admin pledges to build “mutually helpful partnerships of the future” on a visit to Kenya and Ethiopia.
Background
- The UK has contributed a total £650million to the African Development Fund. This includes £200million announced at COP for the Climate Action Screen, and an additional £450million for the core replenishment, which will be introduced in Kenya.
- The $9 billion package announced by ADF for the next 3 years is the largest replenishment of the fund to date (this is the 16th replenishment).
- The UK’s contribution towards the African Development Bank displays our long-standing commitment towards the continent. We will go considerably when we go together.
- New or improved electricity cable connections for 18. 9 million people (9. 2 million women).
- 500MW of extra renewable energy generation capacity
- Farming improvements for 23. six million people (11. 3 or more million women).
- New or improved sanitation for thirty-one. 2 million people (15. 4 million women).
- Enhanced access to transport for 14. 3 million people (7. 2 million women).
- Over 2 . 3 million new work opportunities (1. 1 million women).
- The ADF is part of the African Development Bank: Africa’s only AAA-rated financial institution, which is majority-owned by African countries. The financial institution is an important partner for the UNITED KINGDOM in Africa. *ADF tasks are helping to boost Kenya’s economy and promote livelihoods for the poor, by for example , helping to deliver access to less expensive electricity, increase renewable energy, double forest cover, and provide seed products, fertiliser and increased entry to water to increase food production and farm incomes.
- As well as the Fund is helping Ethiopia to become wheat self-sufficient this year by facilitating access to drought resistant seeds and other farming technologies. It is also increasing plantation incomes, generating jobs, plus promoting trade through better transport links and cross-border electricity networks.
- In addition to our support for the ADF, we have been also providing a guarantee, that was announced at COP26, that will increase the Bank’s financing meant for tackling climate change simply by up to $2bn in nations such as Egypt and South Africa.
- Our collaboration with Kenya continues to build on the committed UK-Kenya Strategic Partnership, a five-year agreement that is unlocking mutual benefits for the UNITED KINGDOM and Kenya.
