The World Bank has chosen 4 African nations to pilot a scheme that will aid at least 100 million people in sub-Saharan Africa by 2030. The Clean Energy program’s pilot would be implemented in Sao Tome and Principe, Tanzania, Rwanda, and Somalia.
- $15 billion will be invested in Sub-Saharan Africa by the World Bank.
The program’s objective is to improve the area’s access to clean, sustainable energy.
In the end, 20 countries and 100 million Africans would profit from it.
Twenty countries in the region will be included to the “Accelerating Sustainable and Clean Energy Access Transformation (Ascent) Program” over the course of the next seven years, according to The East African, a news site that focuses on news from East Africa.
Ajay Banga, President of the World Bank Group, revealed the $15 billion project in Zanzibar during the International Development Association’s (IDA) mid-term review conference of its 20th financing round.
Given that over 600 million Africans lack access to power, we are aware that this solution would not address the issue for the entire continent. However, the World Bank president stated, “We see it as a start and also a platform to draw more interest among IDA partners to also join the cause through similar investments.”
According to the World Bank, this initiative will play a significant role in the development of the area, where just 48% of people live in urban regions and 26% of people live in rural areas with access to power.
The biggest obstacle to the region’s current development progress is the absence of energy availability, which impedes economic recovery.