COP26: African Development Bank welcomes nearly $136 million in donor support for Sustainable Energy Fund for Africa.
ENPNewswire-November 11, 2021--COP26: African Development Bank welcomes nearly $136 million in donor support for Sustainable Energy Fund for Africa
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Release date- 10112021 - The African Development Bank has welcomed $136 million in additional donor commitments for the Sustainable Energy Fund for Africa (SEFA).
The announcements were made on Monday, during an event at the COP26 conference featuring government ministers and a panel of leaders in renewable energy. The event was an occasion for SEFA donors to reaffirm their support for the Fund's institutional priorities. SEFA is a multi-donor trust fund managed by the African Development Bank.
Denmark, SEFA's founding partner and first donor, unveiled 100 million Danish kroner (around $14 million) in fresh commitments.
Flemming Moller Mortensen, Denmark's Minister for Development and Nordic Cooperation, said energy was transformational for economic growth, job creation and strengthening climate resilience. 'The good news is that green energy - such as wind and solar - has become cheaper than fossil fuel. This opens a unique opportunity to close the energy gap for the almost 600 million people living in Africa without access to electricity today with renewable energy sources.'
Dr. Maria Flachsbarth, Parliamentary State Secretary of Germany, said: 'The Sustainable Energy Fund for Africa can speed up development and contribute to the energy transition in Africa while creating universal access to energy and decarbonizing economies. Therefore, Germany recently increased its contribution to SEFA by another EUR100 million.' This significant German contribution to SEFA was first announced during the UN High-level Dialogue on Energy last September.
United Kingdom Minister for Africa, Vicky Ford, said: ''Too many people living across Africa still do not have access to electricity. This means children can't do their homework, businesses can't operate, and economies can't grow. Which is why it is essential we support African countries in a just and inclusive energy transition, so everyone can access affordable, reliable and sustainable energy.' She said additional UK and global support to the Sustainable Energy Fund for Africa will help make this a reality, providing more affordable electricity to households, communities and businesses across the continent.
'Working together to support African countries to lower dirty emissions and grow job-creating...
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