Rich countries said they will spend about $25 billion by 2025 to boost Africa's efforts to adapt to climate change as the continent continues to struggle with drought, cyclones and extreme heat, according to officials at a summit in Rotterdam in the Netherlands on Monday.
The amount promised by the Africa Adaptation Acceleration Program — a joint initiative between various nations and organizations — is billed as the largest ever adaptation effort globally. Half of the amount is pledged by the African Development Bank with representatives from Denmark, the United Kingdom, France, the Netherlands, the International Monetary Fund and others also offering their support for the initiative.
