The Development Bank of Southern Africa (DBSA) has urged other development finance institutions to promote infrastructure solutions that integrate climate resilience and sustainable development in Africa and other developing countries.
This happens because Africa and Asia bear the brunt of climate impacts such as droughts and floods, yet the financial resources needed to adapt existing infrastructure are woefully inadequate.
These regions are among the areas most affected by climate change. Prolonged drought, rising sea levels and devastating floods are wreaking havoc on economies and communities, disrupting livelihoods and threatening food security.
According to the United Nations Environment Programme, Africa alone will need up to $100 billion a year for climate adaptation by 2030, while many countries in Asia face similar funding shortfalls.
DBSA CEO Boitumelo Mosako said the lack of a coherent climate finance framework to address these region-specific challenges exacerbates that vulnerability.
Mosako said that without access to sustainable financing mechanisms, many countries will be unable to strengthen their infrastructure against increasingly unstable weather patterns.
As a result, DBSA will host the Finance in Common Summit (FiCS) next month in collaboration with the Asian Infrastructure Investment Bank (AIIB) and the French Development Agency (AFD).
The summit will serve as a platform to advance infrastructure solutions that integrate climate resilience and sustainable development.
“The effects of climate change are magnified in developing regions of Africa and Asia because they lack the resources to adapt,” Mosako said.
“FiCS 2025 is an opportunity to reimagine climate finance as a tool of empowerment and foster a unified approach to combating climate damage and promoting inclusive economic growth.”
The summit will address issues related to building resilient infrastructure to counter the devastating effects of climate change.
The Public Development Bank (PDB) and its global partners will come together to drive innovative solutions to ensure no region is left behind, with a particular focus on developing countries in Africa and Asia.
Mosako said Africa and Asia were already demonstrating the potential for transformation through targeted efforts.
For example, the African Adaptation Acceleration Program (AAAP) has mobilized $25 billion to support projects in water management, agriculture, and renewable energy.
Similarly, climate finance projects in Southeast Asia are advancing coastal defense and renewable energy solutions, she said. The lack of a coherent climate finance conversation leaves vulnerable regions to grapple with different solutions.
FiCS 2025 aims to close this gap by bringing stakeholders together to design a financial architecture that addresses the systemic challenges of climate change. By focusing on cooperation, the Summit can lay the foundations for a more inclusive and resilient global economy.
Against the backdrop of South Africa’s G20 Presidency, this summit highlights the PDB’s important role in shaping the future of climate finance. As stewards of development and sustainability, these banks are uniquely positioned to drive the systemic changes needed to reduce climate risks and unlock new growth opportunities.
FiCS has previously promoted projects that transform communities, including advances in renewable energy in Indonesia, sustainable agriculture in Kenya, and flood resilience in Brazil. These examples highlight the potential for collaboration to have real-world impacts, particularly in regions where climate vulnerability and economic inequality intersect.
FiCS 2025 champions viable solutions and emphasizes that resilience is not just about survival, but creating a path to thriving in a changing climate. By addressing structural barriers to climate finance, this summit will enable countries to build back better and ensure a secure and sustainable future for future generations.
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