- The African Development Bank provides $1 million to support private investment in sustainable transport in seven African countries.
- It will also support the development of a bankable pipeline of e-mobility projects.
The Sustainable Energy Fund for Africa (SEFA) of the African Development Bank Group will provide a $1 million technical assistance grant to the Green Mobility Facility for Africa (GMFA). This will help provide technical assistance and investment capital to accelerate and expand private sector investments in sustainable transport solutions. This will be operational in seven countries: Kenya, Morocco, Nigeria, Rwanda, Senegal, Sierra Leone, and South Africa.
The SEFA grant will support the creation of an enabling environment for Electric vehicles (EVs), the design of EV business models and guidelines for the public and private sectors. It will also support the development of a bankable pipeline of e-mobility projects, regional coordination, and knowledge-sharing, amongst other upstream activities.
Nnenna Nwabufo, the Director-General of the Bank’s East Africa Regional Development and Business Delivery Office, said, “Mobility is a fundamental lifeline that connects people to critical services, jobs, education, and opportunities. The African Development Bank is committed to building a sustainable and more climate-resilient future by catalysing private investment in low-carbon solutions. GMFA will tremendously impact the African market by accelerating the shift to green mobility, reducing over 2,175,000 carbon dioxide equivalent tons of greenhouse gas emissions and facilitating the creation of 19,000 full-time jobs.”