In additional donor commitments for the Sustainable Energy Fund for Africa (SEFA), the African Development Bank (AfDB) has received US$136mn
SEFA is a multi-donor special fund that aims to unlock private sector investments that contribute to universal access to affordable, reliable, sustainable, and modern energy services for all in Africa.
The announcements came 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 AfDB.
Dr. Kevin Kariuki, Bank Vice-President for Power, Energy, Climate Change and Green Growth at the AfDB, said: “SEFA is a key catalyst for the New Deal for Energy in Africa aimed at ensuring universal access to affordable, reliable and sustainable energy.”
With nearly 55% of the population still lacking access to modern energy, fast population growth and ongoing economic transformation, Africa will require a step-change in investment activity to meet targets under Sustainable Development Goal 7 and the Paris Agreement. SEFA has received contributions from the Government of Denmark, Germany, Italy, Norway, Nordic Development Fund, Sweden, Spain, United Kingdom and United States.