AFDB discloses a $12bn power plan for Africa
The African Development Bank (AFDB) has unveiled plan to invest $12 billion over the next five years under its new electrification programme.
The fund will support its New Deal on energy for Africa which aims to achieve universal access to Africa by 2025.
The plan was born out of the Energy Week conference held in Abidjan, Ivory Coast in March which brought stakeholders together to discuss methods of improving energy access.
Until recently, the AfDB and other organisations regarded off-grid power provision as a stop-gap measure, designed to provide electricity to people until their homes were connected to the grid.
However, the global boom in renewable energy technologies and the growing attraction of energy in the West has changed the way the concept is viewed. Read original article here