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Financing renewable energy projects: GEAPP and AFD support African banks

03/03/2025
Source : ORISHAS FINANCE
Categories: Sectors

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At the Finance in Common Summit (FiCS) ended on Friday 28 February in Cape Town, South Africa, the Global Energy Alliance for People and Planet (GEAPP) and the Agence Française de Développement (AFD) announced an initiative to mobilize up to 5 million USD in technical assistance for African financial institutions (GEAPP) and the Agence Française de Développement (AFD) announced an initiative to mobilize up to 5 million USD in technical assistance for African financial institutions. This support aims to strengthen their capacity to finance renewable energy projects and access to electricity.

Initiated by the World Bank Group and the African Development Bank Group, the Mission 300 program aims to connect 300 million Africans to electricity by 2030. During a panel at the African Energy Summit, and alongside representatives of public development banks, Rémy Rioux reiterated the full support of the AFD Group for Mission 300, and the commitment to increase AFD's operations dedicated to the electrification of the African continent by more than 50%, by more than 50%. He also invited participants to continue discussions on accelerating access to electricity at the Joint Finance Summit scheduled for this February.

On the sidelines of the Summit, Rémy Rioux spoke with Dr. Doto Mashaka Biteko, Deputy Prime Minister and Minister of Energy of Tanzania, and Dr. Mwigulu Nchemba, Tanzanian Minister of Finance. This audience provided an opportunity to discuss the contribution of the AFD group to the priorities of the Tanzanian government over the past fifteen years. On this occasion, they announced the launch of a partnership between the Ministry of Energy and the International Energy Agency (IEA), with the support of AFD, for the development of an energy transition plan, to define Tanzania's carbon trajectory during the COP 30 in Belém

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