Following the devasting impacts of the COVID-19 pandemic on African economies and the continent’s worsening debt situation, the United Nations Economic Commission for Africa (UNECA) Wednesday launched a new finance mechanism aimed at saving African governments $11 billion in borrowing costs in the next five years.

The Liquidity and Sustainability Facility project (LSF) launched at the COP26 global climate conference underway in Glasgow, Scotland is also aimed at fostering greener investments and sustainable development in the continent.

Veronic Njie gives us the details.