ADB to reach 29.3 million Africans with electricity by 2020
The President of the Bank, Akinwumi 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.
He pledged support for the New Way of Working as “crucially important” and indicated that it requires a new way of tackling development issues.
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.
“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% when I became President in 2015 to 100% last year,” President Adesina said.
“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.”
The Bank President 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, noting that African countries, hit by climate change, are hard pressed to find funds to pay the insurance premiums. ■