2023-12-09 22:33:43
Nearly 600 million people on the African continent do not yet have access to electricity, and to remedy this, the President of the World Bank, Ajay Banga, announced Wednesday, December 6 in Tanzania to allocate an envelope of five billion dollars. Objective: for 100 million more people to have access to electricity by 2030. By extending electricity networks, he wants to reduce poverty.
Published on: 09/12/2023 – 23:33
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Through the International Development Association (IDA), dedicated to the poorest countries, the world Bank wants to invest five billion dollars, notably in the form of donations or loans at very favorable rates, for the development of electrification. It also hopes to raise 10 billion in additional financing via public-private partnerships.
The RwandaSão-Tomé-et-Principe, la Somalia and the Tanzania – considered to be the countries leading the way in the field – are the first four countries which will benefit from this envelope. Six projects have already been approved for a sum of approximately one billion dollars.
This financing is particularly dedicated to infrastructure: the construction or renovation of electrical lines, or the development of renewable energy sources, particularly in areas located outside the central networks. The rest of the sum, almost three billion dollars, must still be raised during the next IDA fundraising, to ultimately support 20 countries.
However, this financing system is not sustainable, warns the President of the World Bank. He assures that more funds are needed, but also to reform the system to go faster and be more efficient.
The president of the World Bank wants to expand electricity networks in Africa to reduce poverty, by promoting the development of trade and agriculture, but also improve food security and health systems.
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