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Business News of Monday, 24 February 2025

    

Source: www.ghanawebbers.com

New report reveals 15% annual growth in NBS projects; urges greater investment

World Resources Institute World Resources Institute

A new report by the World Resources Institute and the World Bank, with contributions from the AfDB, reveals that Nature-Based Solutions (NBS) projects in Africa have grown by 15% annually from 2012 to 2021.

The study identified 297 projects launched between 2012 and 2023 that integrate natural interventions with grey infrastructure to boost climate resilience, improve water quality and supply, mitigate floods, and control erosion.

Projects are classified as green-grey, green, or small-scale. Although NBS funding in Sub-Saharan Africa has increased by 23% annually to over $12 billion, it remains far below the region’s $100 billion infrastructure financing gap.

The report recommends policy integration, enhanced technical capacity, and diversified funding. To support these efforts, WRI’s Green-Gray Infrastructure Accelerator will help 11 African cities in scaling these initiatives.