AfDB Annual Meetings: Development partners crucial to addressing Africa's climate challenges

The fight against climate change in Africa has garnered increased attention in recent years as the continent grapples with the devastating effects of global warming. Emmi Oikari, the temporary alternate Governor for Finland at the African Development Bank, emphasized the importance of leveraging the works of development and multilateral partners with public sector financing to drive the much-needed support. In a recent interview on CNBC Africa, Oikari highlighted the significance of attracting private sector investments and using public funds to amplify their impact. She stressed the crucial role of financing instruments in attracting private sector participation in climate change initiatives. Oikari noted that Africa is a high priority for Finland, despite its location high up in the north. She acknowledged the interconnectedness of regions and the far-reaching consequences of climate change, particularly in Africa. Combatting climate change is a key focus for Finland in Africa, along with promoting gender equality, youth empowerment, and job creation. Oikari underscored the importance of women's participation in driving economic growth and emphasized the need to create opportunities for all. Amidst global funding shortages and economic uncertainties, Oikari highlighted the essential role of development partners in addressing these challenges. Finland is a staunch supporter of multilateral organizations and the international rules-based order, recognizing the importance of collaborative efforts in solving global issues. Oikari emphasized the need for countries and partners to work together to tackle challenges that transcend national borders. Reflecting on the discussions at the event, Oikari identified a key takeaway from the panel sessions - the strategic use of public sector financing to leverage private sector investments, especially in the least developed countries and innovative approaches. She highlighted the importance of taking risks, investing in startup scenes, and leveraging local knowledge to drive impactful solutions. Oikari's insights underscored Finland's commitment to partnering with African nations to address climate change challenges and foster sustainable development.