newsCOP22: France Promises 5 Billion Euros a Year by 2020 (Hollande)


15 Nov

COP22: France Promises 5 Billion Euros a Year by 2020 (Hollande)

Marrakech, 15/11/2016 (MAP) – French President François Hollande said, Tuesday at COP22 in Marrakech, that France will “keep its word” on developing countries, announcing a funding of 5 billion Euros per year by 2020, out of the 100 billion Euros promised by developed countries under the Paris Agreement.

Hollande, who was speaking at the high-level segment of the COP22, said that concerning Africa, France will provide 5 billion Euros over the next 5 years among the 10 billion promised during the Paris COP under the renewable energy initiative for Africa, and for which 240 projects were identified.

He added that his country will make sure to mobilize the European Union for this purpose.

“The COP 22 must be an event of solutions and place the future of Africa a top priority,” he said, noting that “the world has an ecological debt towards Africans”, given that of the 50 countries the most affected by climate change 36 are in sub-Saharan Africa.

At the national level, he said that France will reduce GHG emissions by 40% by 2030 and divide them by 4 by 2050, while announcing the closure of coal-fired power stations by 2023.

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