- Mission 300 aims to provide electricity to 300 million people in Sub-Saharan Africa by 2030, with the World Bank electrifying 83.3% of the population and the AfDB Electrifying 16.7%.
- Private sector investment is essential to fill funding gaps, with businesses encouraged to invest in transmission, distribution, and cross-border energy trade.
- The initiative will focus on clean energy solutions, including solar and wind, to meet development and climate goals while improving regional energy infrastructure.
The World Bank has launched an initiative to electrify 300 million people in Sub-Saharan Africa by 2030. The “Mission 300” project aims to close the energy access gap in the region, where 600 million people still lack electricity.
The initiative partners the World Bank with the African Development Bank (AfDB). The World Bank’s Mission 300 is Powering Africa report details the plan. According to the report, the World Bank will connect 250 million people or 83.3% of the target population, and the AfDB will provide electricity to the remaining 50 million people, or 16.7%.
The plan includes large-scale projects, such as Nigeria’s Distributed Access through Renewable Energy Scale-up, to speed up progress. The World Bank will use these efforts to reach the 2030 target.
Private sector investment will play a crucial role in the success of this initiative. The report emphasises that development banks alone cannot supply enough funding. Electrifying Africa requires much more financing than they can provide.
The World Bank stated, “Private sector involvement is vital to fill the funding gaps. ” The report stressed that businesses must increase investments in transmission, distribution, and cross-border energy trade.
The World Bank is working to create incentives to attract private investors. The International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) are involved in this effort. These organisations will develop guarantees and incentives to encourage private sector participation in energy projects.
The report also highlighted the support of other key organisations. The Rockefeller Foundation, the Global Energy Alliance for People and Planet, and the United Nations’ Sustainable Energy for All initiative all work to mobilise additional financing. Their efforts will complement the funding from the World Bank and AfDB.
The World Bank focuses on scaling up investments and ensuring long-term sustainability. The initiative will provide power to millions, enabling economic growth, improved healthcare, and better education opportunities for communities in Sub-Saharan Africa.
Mission 300 will enhance energy access in both rural and urban areas. The World Bank focuses on clean energy solutions to ensure the new power sources remain sustainable. Solar energy, wind, and other renewable resources will play a key role in the electrification efforts.
The World Bank and AfDB are collaborating to strengthen energy infrastructure. They plan to improve transmission and distribution networks, making energy access more reliable and efficient across the region.
The initiative aligns with global efforts to reduce carbon emissions. As Sub-Saharan Africa electrifies, the region will focus on greener energy solutions. Renewable energy will help meet both development and climate goals.
The World Bank remains optimistic that the private sector will contribute significantly to the project. The bank recognises the importance of long-term investment in infrastructure to support economic development in the region.
The “Mission 300” initiative supports the broader effort to achieve the United Nations’ Sustainable Development Goals. One of these goals is ensuring universal energy access, and the World Bank remains committed to leading the charge to reach it by 2030.