AfDB targets providing electricity to 29,3m Africans by 2020

ADDIS ABABA - Between 2018 and 2020, 29,3 million people in Africa will get electricity from renewable energy projects financed by the African Development Bank (AfDB), its president, Akinwunmi Adesina, has said.

Adesina, disclosed that in line with AfDB’s High 5 development priorities and, in particular, its agenda to Light up and power Africa, the Bank plans to reach this number of people with electricity supply by 2020.

He indicated the number would grow up from the 3,8 million people that are currently beneficiaries of its intervention in the power challenges of African countries.

He stated that more funding for the energy portfolios of the AfDB was underway and that its financial commitment to renewable energy development has gone up to 100 per cent since he took charge in 2015.

Adesina, made this disclosure at the High Level Event on “New Way of Working: From Vision to Action-National, Regional and Global Dimensions” at the United Nations Economic Commission for Africa in Addis Ababa, Ethiopia, last Sunday.

He also pledged support for the New Way of Working, saying it was “crucially important.”

A statement from the AfDB, indicated that United Nations agencies signed a “Commitment to Action” document at the World Humanitarian Summit in which they agreed on a New Way of Working in crises.

Adesina, however said: “The African Development Bank is today at the forefront of investing in renewable energy in Africa.

“The share of renewable energy in the Bank’s energy portfolio increased from 14 percent when I became president in 2015 to 100 per cent last year.”

He added: “Our support last year alone provided 3.8 million Africans with access to electricity. And, with adequate financing, we expect to reach 29.3 million people with access to electricity between 2018 and 2020.”

He called on the UN Secretary General to join him in supporting the Green Climate Fund and the Global Environment Facility to also work differently, and step up support to co-pay for climate risk insurance for vulnerable African countries.

This, he stated would help African countries hard hit by climate change and really pressed to find funds to pay the insurance premiums. -OFFGRIDNIGERIA.COM