-
The AfDB, through the Sustainable Energy Fund for Africa (SEFA), has extended a $1 million grant to help African countries to accelerate their energy transition.
- The grant will help 5 countries to assess gaps in their clean energy policy and frameworks, among other things.
The African Development Bank (AfDB), through the Sustainable Energy Fund for Africa (SEFA), has extended a $1 million grant aimed at helping African countries to accelerate their clean energy transition. This extension comes before the 2021 United Nations Climate Change Conference, COP26, which is set to hold later this year.
The technical assistance grant will help up to five African countries participating in a COP26 Energy Transition Council process to assess gaps in policy, regulatory and institutional frameworks, develop approaches to increase grid-connected renewable energy generation, and identify financing mechanisms.
Read also: AfDB Provides $27 Million Loan for 200 MWp Egyptian Power Plant.
Dr Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth at the African Development Bank, said: “The SEFA RRF will buttress the groundwork for accelerating the deployment of renewable energy in selected African countries, thereby complementing the Bank’s efforts towards a just energy transition for the continent.”
The SEFA Rapid Response Facility, part of COP26 Energy Transition Council efforts, is designed to be flexible and responsive to the energy-transition requirements of participating Governments.
SEFA, a specially managed fund of the African Development Bank, provides catalytic finance for clean energy. The fund aims to achieve the targets of the AfDB’s New Deal on Energy for Africa by accelerating universal access to affordable, reliable, sustainable, and modern energy services for all in Africa, in line with the