(BN) African Development Bank Starts Program to Support CO2 Finance


African Development Bank Starts Program to Support CO2 Finance
2010-11-24 13:00:11.423 GMT

By Lauren van der Westhuizen
Nov. 24 (Bloomberg) -- The African Development Bank started
a $1 million technical-assistance program to help clients in 53
countries access revenue from the sale of carbon credits.
The African Carbon Support Program will assess projects to
determine their potential to qualify for carbon credits from the
United Nations Clean Development Mechanism, according to a
statement on the bank's website.
The two-year program was started earlier this month by the
bank's Energy, Environment and Climate Change Department. It
includes training for working with Designated National
Authorities, the government agencies known as DNAs that screen
carbon projects before they go to the CDM executive board.
The African Carbon Support Program will assist DNAs in
preparing required documentation. It will also help project
developers accurately monitor and report emissions reductions
from their projects, the Tunisia-based bank said.
The program is being funded with a $1 million grant from
the Fund for African Private Sector Assistance, which was set up
by the bank in conjunction with the Japanese government.

For Related News and Information:
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--Editors: Mike Anderson, Todd White.

To contact the reporter on this story:
Lauren van der Westhuizen at +27-21-410-0222 or at

To contact the editor responsible for this story:
Reed Landberg at +44-20-7330-7862 or