The African Development Bank Group (AfDB) presented its New Deal on Energy for Africa, and launched a Transformative Partnership on Energy at the World Economic Forum in Davos, Switzerland, on January 20, 2016. The New Deal on Energy for Africa is a transformative partnership-driven effort with an aspirational goal of achieving universal access to energy in Africa by 2025. To drive and achieve this goal, the African Development Bank is working with governments, private sector, bilateral and multilateral energy sector initiatives to develop a Transformative Partnership on Energy for Africa - a platform for public-private partnerships for innovative financing in Africa's energy sector. "The 'New Deal on Energy for Africa' sets the ambitious target of universal access by 2025, which means bringing modern energy to 900 million people in Sub-Saharan Africa, to cover for those who do not currently have access as well as the expected population growth. This implies a step change in the way that the Bank, African countries, development partners and the private sector approach the energy sector on the continent.

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