African Development Bank And Germany Collaborate To Accelerate Energy Growth In Africa

Germany and the African Development Bank Group announced joint initiatives to accelerate energy access and private sector growth across Africa. The partnership, which was unveiled during a high-level meeting in Abidjan last week, includes strengthened support for the Mission 300 initiative, which aims to provide electricity access to 300 million Africans by 2030, and expanded financing for youth entrepreneurship programs.

Germany’s pledge strengthens its standing as a strategic partner in Africa’s sustainable development agenda as the biggest contributor to the 16th replenishment of the African Development Fund, the Bank Group’s concessional window, and a significant shareholder.

More than 90 high-ranking officials from the Bank, German Federal Ministry for Economic Cooperation and Development (BMZ), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), and Kreditanstalt für Wiederaufbau (KfW).

The partnership will enhance support for the Bank Group’s energy access programs, focusing on implementing National Energy Compacts across member countries.

“ The African Development Bank values this strong demonstration of commitment to build strategic partnerships and thanks Germany for its steadfast support to the Bank Group. By working together, we continue to lay the groundwork for a brighter, more inclusive future for Africa,” said Mrs. Marie-Laure Akin-Olugbade, Senior Vice President of the Bank Group.

Support for regional power integration programs and increased funding for renewable energy projects are two examples of specific initiatives. The partnership expands on previous partnerships through the Climate Action Window and the Sustainable Energy Fund for Africa.

The partners also talked about initiatives aimed at bolstering Africa’s private sector, with a focus on skill development and youth entrepreneurship. Important projects include improved cooperation on the Build 4 Skills program and more support for Youth Entrepreneurship Investment Banks (link is external).

Opportunities to assist African nations’ regional integration initiatives under the Africa Continental Free Trade Area were also discussed.

“This deep dive came at the right moment as the development sphere is going through significant times of upheaval. I would like to echo the words of President Adesina, who said that to foster development on the continent, we need to move at scale. For this, we need development partners to join the ranks, and I am very proud that the African Development Bank and Germany strive to deepen their excellent cooperation.” BMZ Director General for Africa Ms Birgit Picket said.

During technical sessions, the partners explored opportunities for enhanced collaboration and co-financing at the country and regional levels, identifying “low-hanging fruits” and joint resource mobilization strategies for the M300 National Energy Compacts.

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The signing of important subscription agreements under the Alliance for Green Infrastructure in Africa (AGIA) was a major highlight of the meetings. An important step toward the AGIA Project Development Fund’s first close is the signing. Through the agreement, the West Africa Development Bank, Africa50, the African Development Bank, and KfW will work together to accelerate the development of green infrastructure throughout the continent.