- Submitted by: African Development Bank (AFDB)
- Topic: Finance
- Keywords: finance, energy
- Location: Africa
- Date of completion: 2030
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Deliverables & Resources
- This voluntary initiative came from Sustainable Energy for All (SE4All)
Scaling up access to energy and renewables in Africa
Partner(s)Partnering with private and public enterprises
Description/achievement of initiativeMaking a reality of Sustainable Energy for All in Africa--AfDB will make the investments and provide the expertise African countries need to achieve their own energy goals.
Implementation methodologiesToday, more than one out of two Africans do not have access to modern energy. This number rises to nine out of ten in rural regions. To address this challenge, AfDB will be investing $20 billion in energy by 2030. And, in doing so will mobilize $80 billion in additional resources by partnering with private and public enterprises. As a matter of priority, AfDB will finance regional scale energy projects that benefit more than one country. The Bank will also invest in small- and medium-scale energy projects--in particular initiatives that increase access to electricity in rural regions.
The Sustainable Energy Fund for Africa (SEFA) is a prime example of how the Bank delivers for smaller private renewable initiatives. As an African institution, AfDB is committed to engaging with African energy sector stakeholders to work towards the SE4All objectives. In doing so, it will assist African countries in establishing the policy frameworks they need to harness the continent's vast energy potential and equip countries with the regulatory and institutional framework to attract private sector investments. Together, these actions will scale up Africa’s ability to achieve universal energy access, increase the share of renewable energy and improve energy efficiency, and will put this continent in a better position to realize its social and economic development goals.
|By 2030, the Bank will invest $20 billion and will mobilize $80 in additional resources. Our investments will connect countries and people together, harness the vast renewables potential, and provide access to vulnerable households across Africa.||2030|
|Financing (in USD)||$80,000,000,000|
|Financing (in USD)||$20,000,000,000|