A new analysis of the energy finance provided by the African Development Bank (AfDB) shows that while financing for clean energy access has increased since the bank’s landmark New Deal on Energy for Africa, support for off-grid and mini-grid solutions — often the fastest and most affordable energy access solutions — must accelerate if Africa is to realize universal energy access by 2030.
As the African Development Bank (AfDB) kicks off its first-ever Africa Investment Forum in South Africa, a new report finds that the AfDB’s own support for the most cost-effective energy access solutions lags far behind what is needed – in contrast to its world-leading pledge to scale up energy access on the continent.
Analysis of the data shows that public finance for energy in Africa focuses on fossil fuels, as key energy access solutions are left behind.
This report aims to provide a picture of the public finance flowing to energy infrastructure in Africa from fiscal years 2014 through 2016. It covers development finance institutions including multilateral development banks, as well as the national development banks and export credit agencies of the countries providing the most public finance to energy in Africa.