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April 19, 2024
GreentvAfrica News

AfDB Backs Yobe State: $50 Million to Fight Climate Change and Hunger

The African Development Bank Group (AfDB) has approved a $50 million loan approval for the Yobe State Environmental and Climate Change Action Project (ECCAP) toward bolstering resilience against climate change and improving food security in northeast Nigeria. 

According to a statement on Tuesday from the bank, this funding initiative aims to enhance the lives of over 3.5 million people in the region by addressing climate vulnerabilities, promoting food security, and improving livelihoods. 

The ECCAP’s project funding totals an estimated $101.34 million. AfDB’s contribution of $50 million is complemented by a $30 million co-financing from the Arab Bank for Economic Development in Africa (BADEA). 

Moreover, the Yobe State Government commits $4.52 million in counterpart funding, with an additional $16.82 million coming directly from the project’s beneficiaries.  

72% of Yobe residents living in poverty 

Yobe State’s precarious situation, marked by persistent communal and insurgency conflicts, has exacerbated its environmental and economic challenges. 

The state, where 72% of its populace lives beneath the poverty line, faces severe threats from climate change, making the ECCAP’s mission crucial. The project focuses on combating droughts and desertification, empowering women, and supporting the development of MSMEs through various means, including providing small ruminants and efficient cooking stoves. 

AfDB has 50 operations valued at $4.6 billion in Nigeria

The AfDB’s ongoing commitment to Nigeria includes a diverse portfolio of 50 operations worth $4.6 billion, aimed at achieving the Bank’s strategic priorities and supporting sustainable development across the African continent. 

In the statement, AfDB president, Dr Akinwumi Adesina, said: “This is a very practical and granular project that tackles the issues of insecurity, more generally vulnerability, but also food security, and restoration of the degraded environment. It is all about how we build resilient livelihoods. This is a project that shows how we can do that in an integrated way.” 

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