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World Bank: $16 billion needed to fight climate change in Africa

Photographer | Collection | Getty Images

The World Bank is calling for $16 billion in funding to help Africa and its people adapt to climate change or face diseases and crippling food price inflation.

The Africa Climate Business Plan will be presented on November 30 at the COP21 environmental summit in Paris.

Described by its organizers as "crucial", COP21 will see the world's leaders, scientists, pressure groups and United Nations agencies attempt to thrash out, "a new international agreement on the climate, applicable to all countries, with the aim of keeping global warming below 2 degrees Celsius."

"Sub-Saharan Africa is highly vulnerable to climate shocks, and our research shows that could have far-ranging impact -- on everything from child stunting and malaria to food price increases and droughts," World Bank Group President Jim Yong Kim said in a press release.

"This plan identifies concrete steps that African governments can take to ensure that their countries will not lose hard-won gains in economic growth and poverty reduction, and they can offer some protection from climate change," Kim added.

According to the plan, based on current estimates, Africa will need between $5-10 billion every year in order to adapt to global warming of two degrees.

Three areas of action are identified in the plan. The first will seek to improve the resilience of African assets, comprising natural capital, physical capital and human and social capital.

The second area will focus on, "powering resilience, including opportunities for scaling up low-carbon energy sources."

The third area will look at enabling resilience via the provision of data and information to aid "climate-resilient development across sectors."

"The plan is a 'win-win' for all especially the people in Africa who have to adapt to climate change and work to mitigate its impacts," Jamal Saghir, the World Bank's Senior Regional Adviser for Africa, said.

"We look forward to working with African governments and development partners, including the private sector, to move this plan forward and deliver climate smart development."