Published • loading... • Updated
Africa facing $10-$20 billion economic hit from 'super' El Niño, AfDB climate chief warns
The bank said severe droughts, floods and storms could cut GDP by 1% to 2% in heavily affected countries.
- An impending "super" El Niño could inflict a $10 billion to $20 billion economic hit on African countries, the African Development Bank warned. Director Anthony Nyong said the event could reduce heavily affected nations' GDP by 1% to 2%.
- "When this El Niño comes there is going to be mass migration," Nyong said, adding that maize prices are expected to double. Vulnerable nations like Sudan, Somalia, and Nigeria face particularly severe impacts.
- Governments are caught in a "climate finance trap," lacking resources to respond to crises, Nyong noted. Africa now requires $100 billion this year, while international public adaptation finance reached just $26 billion in 2023.
- The AfDB will hold a bank-wide "seminar" in September to assess investment impacts and stands ready to restructure projects. The institution will work with countries to tap support from the Green Climate Fund.
- Building resilience before disasters strike remains critical, as Nyong stated, "It is cheaper to build a fence around a precipice than to pay for expensive ambulances." This theme will be central to global climate talks in Turkey in November.
Insights by Ground AI
32 Articles
32 Articles
Coming “super” El Niño could cost Africa $20 billion, AfDB says
Extreme weather events triggered by a particularly powerful El Niño weather pattern could cost African economies $10 billion to $20 billion and spark mass migration, the African Development Bank’s top climate expert said. Extreme droughts and flooding threaten food and water security, while government finances and banking are under threat if disasters damage infrastructure and leave cash-strapped countries struggling to repay loans. Food shortag…
·New York, United States
Read Full Article
Tanzania steps up El Niño preparedness as flood risk grows
The government has unveiled a series of measures aimed at strengthening Tanzania’s preparedness for El Niño and other extreme weather events, including the development of a national contingency...
·Dar es Salaam, Tanzania, the United Republic of
Read Full Article
Coverage Details
Total News Sources32
Leaning Left5Leaning Right5Center10Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 25%
C 50%
R 25%
Factuality
To view factuality data please Upgrade to Premium
