The African Development Bank has welcomed 136 million US Dollars in additional donor commitments for the Sustainable Energy Fund for Africa or SEFA.
The announcements were made on Monday, during an event at the climate change conference for SEFA donors to reaffirm support for the 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 equivalent to around 14 million US Dollars in fresh commitments.
Flemming Møller Mortensen, Denmark’s Minister for Development and Nordic Cooperation said energy helps in 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”, said Mortensen.
Parliamentary State Secretary of Germany, Dr. Maria Flachsbarth, stresses on the importance of Sustainable Energy Fund for Africa.
“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 decarburizing economies. Therefore, Germany recently increased its contribution to SEFA by another 100 million Euros”, Dr Flachsbarth added.