"Africa is simply tired of being in the dark," says the African Development Bank (AfDB) President, Akinwumi Adesina. The Bank's "New Deal on Energy for Africa" initiative aims to help the continent achieve universal electricity access by 2025--providing 160 GW of new capacity--with a strong focus on encouraging clean and renewable energy solutions. Pursuing its goal, the Bank recently seeded the Facility for Energy Inclusion (FEI), a pan-African renewable energy debt fund, and is looking to accelerate access to pay-as-you-go (PAYG) payment models for off-grid solar energy. More about the AfDB in this BRIEFING.
AfDB Approves U.S.$ 50 Million Equity Investment and USD$ 50 Million Convertible Loan to Seed the Establishment of the Multi-Investor USD$ 500 Million Facility for Energy Inclusion (FEI)
African Development Bank, 14 December 2016
The Board of Directors of the African Development Bank (AfDB) has approved a financing package of USD 100 million, comprising USD 50 million equity and USD 50 million convertible… Read more »
AfDB Convenes an Innovation Workshop to Accelerate Energy Access Through an Innovative Pay-As-You-Go Model - PAYG 2.0
On December 9, 2016, The New Deal on Energy Task Force hosted an Innovation Workshop to explore pioneering business models to scale access to pay-as-you-go (PAYG) payment models… Read more »
AfDB's New Deal on Energy for Africa is built on five inter-related and mutually reinforcing principles: (i) raising aspirations to solve Africa’s energy challenges; (ii) establishing a Transformative Partnership on Energy for Africa; (iii) mobilizing domestic and international capital for innovative financing in Africa’s energy sector; (iv) supporting African governments in strengthening energy policy, regulation and sector governance; and (v) increasing African Development Bank’s investments in energy and climate financing.
Business Plan Competition Seeks Clean Energy Entrepreneurs in West Africa
African Development Bank, 26 October 2016
During ECOWAS Sustainable Energy Week held in Accra, Ghana (October 17-19), the Private Financing Advisory Network (PFAN) launched its third annual West Africa Forum for Clean… Read more »
Influential world leaders and senior business executives have endorsed President Akinwumi Adesina's "New Deal on Energy", a vehicle through which the African Development Bank ... Read more »
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 ... Read more »
In the video below of a discussion on "How Energy Can Spark Global Prosperity," the African Development Bank (AfDB) president Akinwumi Adesina says "ten years is the timeframe. We ... Read more »
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