Development Banks Have $56-Billion Plan to Boost Africa’s Access to Electricity – OilPrice.com

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In Africa, nearly 600 million people live without electricity, which represents 83% of the global energy deficit, the World Bank says.
Together with multi-national partners and lenders, the World Bank and the African Development Bank seek to raise money to expand access to electricity. Many African nations lack the funds to do this themselves.
This week’s summit in Dar es Salaam, Tanzania, included pledges from Agence Francaise de Development (AFD), the French development agency, for $1 billion.
Asian Infrastructure Investment Bank (AIIB) committed $1 billion to $1.5 billion to support Mission 300. Islamic Development Bank (IsDB) Group pledged $2.65 billion in support of Mission 300 and energy access in Africa from 2025-2030.
The OPEC Fund for International Development also announced an initial commitment of $1 billion in support of Mission 300, with additional financing to follow.