KIGALI, Nov. 27 (Xinhua) -- African countries are facing a huge challenge of funding climate change mitigation and adaptation programs to ensure sustainable green economies, experts said Tuesday.
The lack of sufficient funds to invest in various climate change mitigation programs across the continent continues to hinder efforts to achieve sustainable green growth, said Ayaan Adam, director of Private Sector Facility of Green Climate Fund.
Many African countries have established climate funds but they are not harmonized and have challenges of mobilizing funds, Adam said at a panel session during the Africa Green Growth Forum in Kigali, capital of Rwanda.
African countries need to mobilize for funds from development partners and the private sector in order to address challenges associated with lack of means to finance climate change mitigation programs, she said.
There is an urgent need to spur investment in climate action through carbon markets, mechanisms and finance across African economies, said Gerd Droesse, general counsel of World Green Economy Organization.
"We are seeing green innovations come up in African countries but they are lacking sufficient funds to scale them up," he said.
Inadequate funding remains a persistent challenge despite efforts by African economies to achieve green growth, said Mikko Ollikainen, manager of U.S.- based climate fund Adaptation Fund.
Investments of the private sector investments should help developing countries in Africa that are struggling to mobilize climate funds, build resilience and adapt to climate change, he said.
The inaugural Africa Green Growth Forum running from Nov. 26 to Nov. 30 has attracted more than 1,000 participants, including government officials, climate change experts, environmentalists and investors.
Representatives from the private sector, development partners and civil society organizations are also present at the event to share experiences in green growth and climate resilient development.
