The World Bank on Tuesday unveiled a new plan that calls for $16-billion in funding to help African people and countries adapt to climate change and build up the continent's resilience to climate shocks.

The Africa climate business plan, titled ‘Accelerating Climate-Resilient and Low-Carbon Development’, would be presented at COP21, the global climate talks in Paris, on November 30. It outlines measures to boost the resilience of the continent's assets – its people, land, water and cities - as well as other moves including boosting renewable energy and strengthening early warning systems.

"Sub-Saharan Africa is highly vulnerable to climate shocks, and our research shows that could have a far-reaching impact on everything from child stunting and malaria to food price increases and droughts.

"This plan identifies concrete steps that African governments can take to ensure their countries will not lose hard-won gains in economic growth and poverty reduction, and they can offer some protection from climate change,” said World Bank president Jim Yong Kim.

At current estimates, the plan noted that the region required $5-billion to $10-billion a year to adapt to global warming of 2 °C.

The World Bank and the United Nations Environment Programme estimated that the cost of managing climate resilience would continue to rise to $20-billion to $50-billion by mid-century, and closer to $100-billion in the event of a 4 °C warming.

Of the $16.1-billion that the ambitious plan proposed for fast-tracking climate adaptation, some $5.7-billion was expected from the International Development Association (IDA), the arm of the World Bank that supports the poorest countries.

About $2.2-billion was expected from various climate finance instruments, $2- billion from others in the development community, $3.5-billion from the private sector, and $700-million from domestic sources, with an additional $2-billion needed to deliver on the plan.

"The Africa Climate Business Plan spells out a clear path to invest in the continent's urgent climate needs and to fast-track the required climate finance to ensure millions of people are protected from sliding into extreme poverty.

"While adapting to climate change and mobilising the necessary resources remain an enormous challenge, the plan represents a critical opportunity to support a priority set of climate-resilient initiatives in Africa,” explained World Bank Africa VP Makhtar Diop.