Finance and Development Planning Minister, Samuel Tweah has expressed the need for the Asia Infrastructure and Investment Bank AIIB to focus on climate and smart agriculture for Africa’s potential.
Speaking at a one-day virtual business roundtable on climate Finance meeting via Zoom, Minister said doing this will enhance economic growth and development on the continent.
The Liberian Finance Minister lauded the AIIB for the country’s admission to the bank in 2020 and expressed President Weah’s profound gratitude to the bank executives for the level of cooperation.
Minister Tweah said Africa is working with the bank in developing potentials that would diversify economies on the continent.
He revealed that the post COVID era will bring about challenges, especially in the short term, due to constraints regarding resources.
He further noted that the AIIB needs to focus and turn Africa around, in order for Africa to become the net food producer and consumer.
According to him, Liberia has a comparative market advantage; adding that the country is optimistic about working with the bank on green forest and climate change.
However, he disclosed that the Report shows that the world is going to miss the target of 1.5 degrees Celsius, stating that climate financing should help countries in terms of fuel reduction.
At the same time, Minister Tweah however wants the bank financing facility to help developing countries in Africa to move in that direction.
