- Italy’s contribution to the Sustainable Energy Fund aligns with COP28’s goals to triple the deployment of renewable energy.
- SEFA offers finance to stimulate private sector investments in renewable energy and energy efficiency.
During a side event at the ongoing COP28 in Dubai, Italy announced a new contribution of €5 million to the Sustainable Energy Fund for Africa (SEFA) Special Fund. Nigeria and other African countries will benefit from the €5 million Sustainable Energy Funds.
The Deputy Minister of Environment and Energy Security for Italy, Vannia Gava, said, “This new contribution of €5 million to the Sustainable Energy Fund for Africa Special Fund strengthens the attention that the Italian Government devotes to Africa, a geographical region of priority importance for our country’s energy and climate policies,” Gava said.
Gava stated that the commitment emphasises Italy’s ongoing efforts to foster sustainable energy development in Africa. SEFA is a multi-donor Special Fund offering catalytic finance to stimulate private sector investments in renewable energy and energy efficiency. It provides technical assistance and concessional finance tools to eliminate market barriers, enhance project pipelines, and optimise the risk-return profile of specific investments.