Billions worth of green infrastructure projects in the works for Africa
Africa: The African Investment Forum (AIF) has announced plans to showcase the $50 B worth of bankable projects in the works.
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Africa: The African Investment Forum (AIF) has announced plans to showcase the $50 B worth of bankable projects in the works.
Some of the deals made include an investment to develop over 220 km of electric transmission lines under a long term public-private partnership agreement (PPA). The investment also outlines a project with a ten-year goal to roll out broadband infrastructure to over 800,000 residential and small business customers.
The projects promise not only to progress Africa’s clean energy standards but to provide employment and social development opportunities across Africa.
In a previous meeting with the eight founding partners of the AIF, African Development Bank (AfDB) President Akinwumi A. Adesina stressed the importance of the members playing a role in the Alliance for Green Infrastructure (AGI) initiative.
The partners of the AGI initiative, namely: the AfDB, the African Union Commission, AUDA NEPAD and Africa50, will raise up to $500 M in capital towards early-stage development and project preparation to yield bankable greener infrastructure projects at scale and speed.
The development of these projects is expected to create a total of 3.8 billion jobs across Africa, of which one million will be attributed to African women and women entrepreneurs.
“Going forward, we need to work more closely together to accelerate the pace of investments in infrastructure,” said Adesina.
Source: ESI Africa
#: green infrastructure#Africa#African Development Bank#African Investment Forum#energy projects