It stated on Friday that the shortfall would occur if current trends in climate finance flow into Africa continued.

“In comparison, projected losses for the United States of America and other industrialised countries represent less than 1 per cent of GDP,’’ the AfDB stated.

It added that the bank would organise a pre-Annual Meeting news conference in Abidjan on April 20 to herald its 2023 Annual Meeting at Sharm El Sheikh, Egypt.

“The theme of the 2023 Annual Meeting is: “Mobilising Private Sector Financing for Climate and Green Growth in Africa.

“It also provides a framework for harnessing natural capital to bridge the climate financing gap and promote the transition to green growth in Africa,’’ it stated.

The Annual Meetings of the AfDB Group comprises statutory meetings of its Governors (finance ministers or Central Bank governors representing the 81 member countries) and knowledge events.

Attendants will include Heads of state, representatives of bilateral and multilateral development agencies, leading academics and non-governmental organisations, civil society, and the private sector.