The African Development Bank (AfDB) is proud to be an anchor partner of Power Africa, a five-year United States of America Presidential initiative aimed at supporting economic growth and development by doubling access to power in Sub-Saharan Africa. In fact, the Bank’s work with the US Government on African development issues spans four decades. The AfDB’s contributions to Power Africa run broad and deep, including contributions to the initiative’s focus countries in the form of investments, support for policy reforms, advisory services and guarantees.
Last year alone, this support included the conversion of the Sustainable Energy Fund for Africa (SEFA) into a multi-donor trust fund; providing US $64.5 million for the Africa Renewable Energy Fund (AREF); issuing a loan of EUR 115 million for the 300 MW Turkana Wind Power Project in Kenya, along with a partial risk guarantee (PRG) of EUR 20 million; issuing a PRG Program of US $184 million along with a concessional loan of US $3 million to support Nigeria’s power sector privatization program; providing EUR 145 million for the Côte d’Ivoire–Liberia–Sierra Leone–Guinea Electricity Interconnection; and making US $58 million available for Tanzania’s Governance and Economic Competitiveness Programme. [Read More]
Last year alone, this support included the conversion of the Sustainable Energy Fund for Africa (SEFA) into a multi-donor trust fund; providing US $64.5 million for the Africa Renewable Energy Fund (AREF); issuing a loan of EUR 115 million for the 300 MW Turkana Wind Power Project in Kenya, along with a partial risk guarantee (PRG) of EUR 20 million; issuing a PRG Program of US $184 million along with a concessional loan of US $3 million to support Nigeria’s power sector privatization program; providing EUR 145 million for the Côte d’Ivoire–Liberia–Sierra Leone–Guinea Electricity Interconnection; and making US $58 million available for Tanzania’s Governance and Economic Competitiveness Programme. [Read More]
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