AFDB Approves $50 million Loan to Bolster Climate Change Resilience, Improve Livelihoods, Others in Yobe State

The Board of Directors of the African Development Bank Group (AFDB) has authorized a $50 million loan for the Yobe State Environmental and Climate Change Action Project (ECCAP). 

This funding aims to fortify climate change resilience, augment food security, and enhance livelihoods for more than 3.5 million individuals in northeastern Nigeria.

The project is estimated to cost $101.34 million, with the African Development Bank offering a $50 million loan. Co-financing of $30 million is expected from the Arab Bank for Economic Development in Africa (BADEA). Yobe State Government will contribute $4.52 million in counterpart funding, while project beneficiaries are providing $16.82 million.

Speaking during the Board of Directors’ approval of the project, African Development Bank Group President, Dr. Akinwumi Adesina, said the project will help tackle general insecurity, climate vulnerability, food insecurity and build resilient livelihoods.  

In his words,

“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.”

Also speaking, Director General of the Bank’s Nigeria Country Department, Lamin Barrow, said, 

“With the key interventions in afforestation and reforestation contributing to carbon sequestration, this green project will help reduce vulnerability to climate shocks, build the resilience of the target population and boost Nigeria’s efforts to meet its African Forestry Landscape Restoration Initiative goal to restore 4 million hectares of land degraded by climate change, a regional and global public good, and Sustainable Development Goals 13 and 15 targets.”