COMESA lines up US$50m clean energy scheme for members
A US$50 million regional platform to support COMESA member states and other participating countries in promoting sustainable energy access investments is set to be implemented.
This will be implemented by COMESA and the World Bank The project is part of a new World Bank’s US$5 billion programme designed to accelerate sustainable and clean energy access and provide life-transforming opportunities for 100 million people across countries in Eastern and Southern Africa over the next seven years.
The Accelerating Sustainable and Clean Energy Access Transformation (ASCENT) programme will be a game-changer in a region where only 48 percent of the overall population, and just 26 percent in rural areas, has access to electricity, according to a statement issued on Tuesday.
The statement stated that the platform would engage specialised firms and individuals to provide demand-led technical support in an agile manner to public and private sector entities from participating countries.
“The new regional platform, under the supervision and implementation of COMESA, will support participating countries through various initiatives designed to fill the technical gaps identified in the energy sector, particularly with regards to project preparation, investment readiness, technical know-how and energy access,” the statement stated.
Commenting on the development, World Bank Director for Regional Integration in Africa and the Middle East, Boutheina Guermazi, said the institution looked forward to supporting countries across the region with cutting edge knowledge, research, data, and technology to unleash a rapid expansion of energy access.
The new regional platform, under the supervision and implementation of COMESA, would support participating countries through various initiatives designed to fill the technical gaps identified in the energy sector.
COMESA Secretary General, Chileshe Kapwepwe, in her comment urged member states to engage the secretariat on how they can be part of the initiative.
Ms Kapwepwe said the platform was essential for the region as availability of clean, reliable and affordable energy was needed to drive the social and economic development of the region, which was crucial for the trade development agenda of COMESA.