- Africa needs natural gas for industrialisation
- AfDB seeks financing for energy projects in Africa
In an interview with Bloomberg, the President of the African Development Bank (AfDB), Akinwumi Adesina, has said that Africa needs natural gas to speed up industrialisation to transition to cleaner energy sources. The AfDB is the largest development bank in Africa and has provided finance for various energy projects in the on-grid sector.
Adesina stated that gas is fundamental to the African energy system and that it is essential that long-term decisions are pragmatic and based on a system that supports long-term development. The AfDB seeks to mobilise $25 billion for climate change adaptation programmes on the continent.
”What is needed is financing on the table to allow them to make the investment that is necessary,” Adesina said.