Tunisia - The loss and damage caused by climate change issues and policy options in Tunisia amount to $5 billion, according to the African Development Bank's annual report on "Mobilising Private Sector Financing for Climate and Green Growth in Africa."

The estimated financing needs for climate action between 2020 and 2030 are about $4.24 billion, while the cost of adapting to climate change is estimated at $2.4 billion and the cost of mitigating the effects of climate change is estimated at $4.14 billion, according to the report.

The report adds that there are a number of promising options for private sector partnership, notably capital markets (including green bonds and the carbon market), results-based financing that can be used as a catalyst for blended financing instruments (from the public and private sectors), Islamic finance, and financial products that are friendly to expatriates and designed to channel their remittances into green and environmentally friendly investments.

However, the private sector's involvement in financing climate action is still in its infancy, and some of the obstacles, according to the report, include a lack of transparency about the profitability of green projects, difficulties in assessing risks and pricing, investment horizons that may be too long, and determining the amount of profits.

The African Development Bank believes that new regulatory frameworks and government incentives will be key to channeling private finance towards green growth.

Tunisia's coastline, nearly 1,300 km long, supports more than two-thirds of the country's 12 million people.

This natural capital has enormous potential for various forms of green energy, from solar and wind power to ecotourism and organic farming.

The country also has large deposits of phosphates and hydrocarbons that remain largely unexploited.

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