SPECIAL FEATURE
Failing to meet the Paris targets will have potentially devastating consequences for Africa.
fostering public-private partnerships, issuing green bonds, mobilizing domestic resources through innovative financing mechanisms, participating in carbon markets, exploring climate
heart. The first is the construction of the Cancer Treatment Center in Lilongwe, Malawi, approved in June 2014 (see page 12). The project was originated and financed by the OPEC Fund. It is the first dedicated cancer treatment facility in the country which serves as a referral center and will provide radiotherapy and chemotherapy that was not yet available in the country. The center is expected to provide cancer treatment for more than 2,000 patients per year and to save the lives of thousands of people. The second project is the Social Fund for Development in Egypt, approved in 2009. The project supported women- led households, poor families, university graduates and small businesses and farmers. It helped to cut unemployment and provided financial means to improve the livelihoods of about 14,000 families. Because of the success of the first phase, two extensions were approved in 2015 and 2019, respectively. MK: I just returned from an inspirational mission to Senegal where the OPEC Fund envisages supporting an ambitious urban modernization program. Designed within the framework of a wider decentralization effort, I was happy to see that national development efforts are increasingly inclusive in their approach in an attempt to reach out to their populations beyond the traditional strongholds, and that the participatory approach pursued truly takes into account the legitimate interests and aspirations of the beneficiaries. Development from the people, for the people. This is indeed very encouraging. Every development impact that makes a positive difference in the lives of people is in itself a source of satisfaction. I believe this holds true for any dedicated and genuinely motivated development practitioner. I would consider it a true privilege, because personal commitment towards a noble aspiration and the capacity to take effective action, regardless of its value, strength and extent, remains always just one very minor step on the long and cumbersome path leading to a more balanced, just and sound world. A world where the integrity and dignity of all forms of life are safeguarded. The journey is uncertain, and the way is infinitely long.
International Monetary Fund, Special Report on Africa, October 2023
insurance, facilitating technology transfer and enhancing local community involvement. Climate change is a global challenge and collective efforts are crucial to ensure that Africa and other vulnerable regions can build resilience and adapt to a changing climate. OFQ : What will a failure to meet the Paris Agreement targets mean for Africa? And if Africa suffers, can the world ignore it? MK: Given its vulnerability to the impacts of climate change, failing to meet the Paris targets will have significant and potentially devastating consequences for Africa. Since 2009, developed countries have committed to mobilize US$100 billion per year for adaptation and mitigation projects in developing countries. Yet this promise has never been fully met in any year, even though the historical responsibility on this matter lies with developed countries: It is estimated that the African continent is responsible for just 4 percent of historic global greenhouse emissions. Adaptation finance in support of structural and behavioral change is a priority for Africa given its vulnerability to the climate crisis. However, global climate finance flows have to date mainly focused on mitigation activities, cutting greenhouse gas emissions and fighting other pollution. There is some good news, though: Adaptation finance saw the largest percentage growth between 2017 and 2020 and in US dollar terms increased from US$30 billion in 2017– 2018 to US$49 billion in 2019–2020, driven mainly by financing from bilateral and multilateral development finance institutions. Ignoring Africa would be detrimental to global efforts to combat the worldwide climate crisis. For example, most African countries depend on fossil fuels for their energy needs and without access to adequate climate finance they would not be able to implement their transitions to low-carbon and climate-
resilient economies. Rather, they would most likely intensify their fossil fuel dependence to meet their growing energy needs, thereby undermining efforts elsewhere in the world. Climate change and the ensuing devastating effects of vast scale migration on local economies and above all on the well- being of migrants will pose critical challenges to African nations and the rest of the world, in particular Europe. OFQ : Africa is also exposed to disruptions in global supply chains, most notably in food supply. Given the choice is between globalization and reshoring, which development model will be better for Africa in the long run? KAZ: Africa faces challenges and opportunities in the context of global supply chain disruptions and the ongoing debate between globalization and reshoring. To determine a development model that works for Africa, a balanced approach that leverages both globalization and regional development strategies is crucial. Africa can benefit from global supply chains, while simultaneously focusing on regional integration, infrastructure development and sustainability. Ensuring that the benefits of economic growth are widely shared and that local industries are competitive and adaptable is essential for long-term development and resilience. Ultimately, the right model will vary by country and region, but the principles of balance, sustainability and inclusivity should guide development efforts in Africa. OFQ : What was your biggest achievement and what do you see as your proudest moment during your service for the benefit of Africa? KAZ: During my 16 years at the OPEC Fund I have had the opportunity to lead or join hundreds of projects in Africa. Out of all those, I will mention two projects that are the closest to my
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