Africa to set up climate fund

African leaders are setting plans to launch a fund this year for Africa to access and manage its share of money from the global United Nations Green Climate Fund, according to U.N.

The fund which is one of the few agreements since 2009 is expected to deliver $ 100 billion per year by 2020 by the United Nations.

Officials from AU and UN say that the fund will be established and accounted for by the African Development bank since many African countries are lacking the essential infrastructure to handle their share of funds meant for climate activities.

South Africa, Tunisia, Morocco and Egypt are the only listed countries which have the capacity and technical utilities to handle the funds which make them viable to pull in the funds.

Forest conservation, renewable energy adoption, mitigation and adaptation activities will be among the main targets aimed for by the fund in poor countries bearing the brunt of climate change.

The horn of Africa is the worst affected by climate change this year having recorded the worst climate experience with millions in need of food aid. Ethiopia, Kenya, Djibouti and Northern Uganda are the worst affected.