Washington DC – 16th April 2024 – The United States Agency for International Development (USAID) and the African Development Bank (AfDB) have pledged to strengthen their collaboration on key issues facing Africa, with a particular focus on empowering women and tackling climate change.
This commitment came after a meeting between USAID Administrator Samantha Power and AfDB President Akinwumi Adesina. The discussions highlighted ongoing successful partnerships in areas like energy cooperation, financial inclusion for women, agricultural development, and trade initiatives that boost Africa’s economic growth.
A significant outcome of the meeting was the signing of a Letter of Intent. This agreement outlines a joint effort by USAID and AfDB to improve women’s access to financial resources, specifically focusing on climate-related projects.
USAID’s Climate Gender Equity Fund (CGEF) will play a key role in this initiative. Administrator Power noted that the fund’s initial recipients are African women leading investment firms and accelerators dedicated to sustainability, climate change mitigation, and clean energy solutions.