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Africa facing $10-$20 billion economic hit from 'super' El Niño, AfDB climate chief warns
The bank said severe droughts, floods and storms could cut GDP by 1% to 2% in heavily affected countries.
- An impending "super" El Niño could inflict a $10 billion to $20 billion economic hit on African countries, the African Development Bank warned. Director Anthony Nyong said the event could reduce heavily affected nations' GDP by 1% to 2%.
- "When this El Niño comes there is going to be mass migration," Nyong said, adding that maize prices are expected to double. Vulnerable nations like Sudan, Somalia, and Nigeria face particularly severe impacts.
- Governments are caught in a "climate finance trap," lacking resources to respond to crises, Nyong noted. Africa now requires $100 billion this year, while international public adaptation finance reached just $26 billion in 2023.
- The AfDB will hold a bank-wide "seminar" in September to assess investment impacts and stands ready to restructure projects. The institution will work with countries to tap support from the Green Climate Fund.
- Building resilience before disasters strike remains critical, as Nyong stated, "It is cheaper to build a fence around a precipice than to pay for expensive ambulances." This theme will be central to global climate talks in Turkey in November.
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Africa facing US$10-US$20bil economic hit from ‘super’ El Niño, warns AfDB climate chief
Forecasters warn the El Niño weather pattern, which often brings severe droughts, floods and storms to Africa, could become one of the strongest on record if Pacific Ocean warming continues.
·Petaling Jaya, Malaysia
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Africa facing $10-$20 billion economic hit from 'super' El Niño, AfDB climate chief warns
An impending "super" El Niño is likely to inflict a combined $10 billion to $20 billion hit on affected African countries and trigger mass migration from hard-hit areas, the African Development Bank's top climate expert told Reuters.
·London, United Kingdom
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Total News Sources18
Leaning Left2Leaning Right5Center8Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
13%
C 54%
R 33%
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