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African Development Bank (Abidjan)

AfDB's Initiative to Unlock Africa's Renewable Energy Potential

At the just concluded COP 22 Climate Summit in Marrakesh, Morocco, the African Development Bank (AfDB) reiterated its support of the Africa Renewable Energy Initiative. The goal of the initiative is to unlock Africa's renewable energy potential to deliver 10 GW of electricity by 2020 and 300 GW by 2030. The AfDB president looked forward to the G7 countries COP 21 committments to provide $10 billion towards the initiative. Find out more. More about AfDB in this BRIEFING

Photo: AfDB

"The reason why Africa exports raw unprocessed materials is simple: Africa does not have electricity. Lack of access to power has pushed Africa down to the bottom of global value chains. Africa must "power up" itself to add value to what it produces, speed up industrialization and move to the top of global value chains" - AfDB president Akin Adesina