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African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

CORRECTION - Angola: African Development Bank funds $530 million electricity project to expand renewable energy and regional connectivity

The funding follows two other recent Bank contributions to Angola’s energy sector strategy

The African Development Bank (www.AfDB.org) has committed $530 million to finance the construction of a 343 km, 400 kV central-south transmission line that will connect the north and south transmission grids in Angola and allow for the distribution of clean energy between the two regions. The north of Angola has…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Angola: African Development Bank funds $530 million electricity project to expand renewable energy and regional connectivity

The project, once operational in 2023, will avert the consumption of 46.8 billion litres of diesel per year in the south, cutting 80 megatons of CO2 emissions

The African Development Bank (www.AfDB.org) has committed $530 million to finance the construction of a 343 km, 400 kV central-south transmission line that will connect the north and south transmission grids in Angola and allow for the distribution of clean energy between the two regions. The north of Angola has…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Egypt: the African Development Bank approves a loan of over $27 million to establish Kom Ombo solar power plant

The project is expected to lower electricity costs for businesses and residences, as well as reducing greenhouse gas emissions and creating construction and other jobs

The African Development Bank’s Board of Directors (www.AfDB.org) today approved $27.2 million in loan financing for the design, construction and operation of a 200 MW photovoltaic solar power plant at Kom Ombo, in Upper Egypt on the river Nile. The project is expected to lower electricity costs for businesses and…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Africa’s first Super Energy Service Company in Morocco gets $965,000 grant boost from African Development Bank’s Sustainable Energy Fund for Africa (SEFA)

Amid growing demand, Morocco aims to meet its energy needs by combining large-scale energy efficiency strategies and renewable energy investments

The African Development Bank’s Sustainable Energy Fund for Africa (SEFA) (https://bit.ly/37jYAtS) is providing a $965,000 grant to Morocco’s Société d’Ingénierie Energétique (SIE), to support its transition into the first Super Energy Service Company (ESCO) initiative in Africa. ​“This support from the African Development Bank will enable the operationalization of the…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

The African Development Bank: a strategic partner in developing resilience and sustainable energy in the Sahel region

The Sahel Alliance has invited the African Development Bank to lead a working group on agriculture, rural development and food security

The Sahel Alliance will hold its second general assembly in N'Djamena, Chad on Monday, 15 February 2021. The meeting will take place on the side-lines of a summit for the G5 Sahel countries— Burkina Faso, Mali, Mauritania, Niger, Chad—as well as France. The African Development Bank (www.AfDB.org) played an active…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

African Development Bank and Mozambique LNG Area 1 Project win Multilateral Deal of the Year Award for $24 billion global syndicated finance

The project will exploit Mozambique’s immense offshore natural gas reserves, which can potentially transform global energy markets

The Mozambique Liquefied Natural Gas (LNG) Area 1 Project and the African Development Bank (www.AfDB.org) have jointly received the prestigious Global Multilateral Deal of the Year 2020 award by the print and online publication Project Finance International (PFI). The project, the single largest foreign direct investment in Africa to date…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

African Development Bank assists West African countries to deliver carbon emission reductions and meet their Paris Agreement commitments

The Bank will underwrite the preparation of concept notes exploring the use of internationally transferable mitigation outcomes (ITMOs) in selected West African countries

The African Development Bank (www.AfDB.org) has extended financial support to a project that will strengthen the efforts of West African countries to meet their Nationally Determined Contributions (NDCs) targets under the Paris climate accord. The Bank will underwrite the preparation of concept notes exploring the use of internationally transferable mitigation…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

U.K Africa Investment Summit: Renewable energy critical driver of Africa’s post-COVID-19 growth recovery and economic prosperity, Panel says

The panel covered discussion of British innovation and experience in the context of partnering with Africa to advance its economic development

Renewable energy will be a critical driver of Africa’s post-COVID-19 growth recovery and economic prosperity,  panelists in a 2021 UK Africa Investment Summit event said Wednesday, as they called for a stronger partnership between the United Kingdom and  Africa. The panel, themed UK & Africa: Partnering in Sustainable and Resilient…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

COP26 Roundtable: ‘2021 will be critical in the fight against COVID-19 and climate change’ – UN Secretary-General António Guterres

COP26 President Sharma said the global transition to clean power must move at least four times the current pace to achieve targets set out in Paris Agreement on climate change

African Development Bank (www.AfDB.org) President Akinwumi Adesina on Monday joined world leaders to discuss the global transition to clean power as part of a green recovery and identify actions that can be taken to support this. The virtual COP26 Roundtable on Clean Power Transition, under the theme “Achieving a rapid shift…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

African Development Bank President Adesina named a champion of Africa’s Great Green Wall climate-adaptation initiative

In the role of champion, Adesina will lead the mobilisation of political and economic support for the initiative

African Development Bank (www.AfDB.org) President Akinwumi A. Adesina has been announced as a champion of Africa’s Great Green Wall (GGW) initiative. The appointment was made at a forum held in the margins of the One Planet Summit 20201 to mobilise support for the ambitious project to plant an 8,000 km…