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Find all the economic and financial information on our Orishas Direct application to download on Play StoreThe President of the African Development Bank, Akinwumi Adesina, is in Ouagadougou, capital of Burkina Faso, where he is due to take part, on September 13, as a guest, in the Summit of Heads of State and Government of the countries of the G5 Sahel.
President Adesina was received in audience by the President of Faso, Marc Roch Christian Kaboré, who congratulated the Bank for the “Desert to Power” (DPT) initiative. The President of Burkina Faso also underlined the excellent relations of his country with the Bank, thanking it for the portfolio of projects implemented thanks to the institution.
For his part, the President of the African Development Bank paid tribute to the commitment, vision and leadership of President Kaboré for agreeing to host the Summit in his country. He stressed the importance of political will for the success of the “Desert to Power” initiative, which gives the opportunity to strengthen the South-South partnership. "Political will is very important and I can only welcome the determination of the presidents of the G5 Sahel around the initiative," he added.
Referring to the issues surrounding the cotton industry, the two leaders insisted on the strengthening of this sector as well as the need for global mobilization around the DPT initiative, even beyond the G5 Sahel countries.
On the occasion of this Summit, the Bank will officially present its “Desert to Power” initiative to Heads of State and Government. At least 20 billion US dollars will have to be mobilized from development partners. The Bank must advocate during the Summit, with the aim of guaranteeing universal access to electricity for more than 60 million people, thanks to solar energy.
For President Adesina, it is a paradox that in this region, among the sunniest in the world, there is a lack of access to electricity: "today more than ever, cross-border cooperation and trade in the energy sector will be essential to maintain long-term security of supply in the face of the challenges of climate change", he said, adding that in "Burkina Faso, significant steps have been taken with the Yeleen d rural electrification. »
In the G5 Sahel countries, some 60 million people suffer the consequences of a lack of access to electricity, with, for the key sectors of the economy, heavy dependence on fossil fuels, weak production capacities and physical infrastructure.
As part of its strategy for the electrification of Africa, the Bank is firmly committed to accelerating access to quality energy at lower cost for African populations. Essential network interconnections have been approved by the Bank's Board of Directors: Mali-Guinea, Nigeria-Niger-Benin-Burkina Faso and Chad-Cameroon. “We need to harmonize policies and move towards an energy free trade area,” added the President of the Bank.
The DTP initiative covers 11 countries: Burkina Faso, Eritrea, Ethiopia, Mali, Mauritania, Niger, Nigeria, Sudan, Djibouti, Senegal and Chad. It will have a significant impact on the living conditions of 250 million people who should have access to electricity. The objective is to install nearly 10 gigawatts of solar capacity by 2030. This initiative is intended to be a major contribution to the achievement of the Bank's five strategic priorities, the "High 5s", because access to energy cuts across all development sectors in Africa. It is in line with the United Nations Sustainable Development Goals, the Paris Climate Agreement and the Africa Renewable Energy Initiative.
The G5 Sahel is a regional cooperation strategic framework created in 2014, which aims to guarantee the “development and security conditions of its member states”. It includes Burkina Faso, Mali, Mauritania, Niger and Chad. The G5 Sahel countries are convinced of the interdependence between security and development, particularly in basic services (energy, transport, telecommunications, hydraulics).
The President of the African Development Bank was moved by the terrorist acts that recently struck Burkina Faso and expressed the institution's support during his audience with President Kaboré.
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