Q FM Africa's Modern Radio
President Edgar Lungu says energy shortages and climate variability and change have become a major threat to sustainable development in Africa.
Speaking when he officially opened the African Development Bank (AfDB) Annual meetings in Lusaka today, President Lungu says growth on the African continent has already been reduced due to these changes.
President Lungu points out that the International Monetary Fund world economic outlook has estimated growth at 3 percent, a level well below the 5 to 7 percent range recorded over the past decade.
He says whilst the slump in commodity prices has played a role in this slow down, energy shortages and climate change related issues have played an even bigger role in dampening growth prospects, hence putting the poorest of the continent in a precarious position as far as food security is concerned.
President Lungu says these challenges require that Heads of State and other partners put their heads together and find means and ways of developing the continent amidst challenges of climate change and power crisis.
Speaking earlier, African Development Bank President Dr. Akinwumia Adesina says the bank’s focus is to light up and feed Africa as a way of developing the continent.
Dr. Adesina says the Bank has an active energy portfolio of over USD 11 billion, with lending to energy sector projects (public and private) exceeding an annual USD 1 billion in recent years.