World Bank report highlights Guinea-Bissau's challenges amid natural wealth

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Ajay Banga 14th President of the World Bank Group | https://encrypted-tbn1.gstatic.com

Guinea-Bissau possesses significant natural resources, boasting the highest natural capital per capita in West Africa. Despite this, the country grapples with challenges such as high poverty rates, political instability, and an over-reliance on cashew nuts for its economy. The nation also struggles with underdeveloped infrastructure, education, and healthcare systems, alongside low electricity access.

Climate change poses a major threat to Guinea-Bissau. It impacts communities in coastal areas and those dependent on agriculture and fisheries. Without adaptation measures, climate change could reduce real GDP per capita by 7.3% by 2050 and push over 200,000 additional people into poverty.

The Nationally Determined Contribution outlines climate actions focused on forest conservation and sustainable agriculture but relies heavily on external funding. The financial sector's underdevelopment limits support for green investments.

The Country Climate Development Report (CCDR) provides a framework for aligning development goals with climate objectives to foster positive transformations and mitigate climate effects. "Good governance, political stability, and a favorable business environment are essential to the country’s sustainable growth trajectory," according to the CCDR.

Immediate priorities include adopting climate-smart agricultural practices, protecting forests, increasing energy access, and building human capacity. These initiatives aim to benefit vulnerable populations while conserving resources.

Community-driven approaches that leverage traditional authorities can unlock long-term benefits. Activities may include community-led forest conservation and decentralized services for renewable energy.

"Climate action is not only compatible but also fully intertwined with development objectives," states the report. Regular reviews of the climate strategy are necessary to ensure it serves Guinea-Bissau's best interests.

The World Bank Group’s Country Climate and Development Reports help countries prioritize impactful actions that reduce greenhouse gas emissions while supporting broader development goals.