The European Investment Bank (EIB) has pledged more than 2 billion euros ($2.3 billion) in financing for renewable energy projects across Africa over the next two years.
Don’t Miss This:
Africa’s Just Energy Transition Is Already In Motion
According to a statement from the bank, reported by Reuters, the funding will support a range of initiatives, including hydroelectric, solar, and wind power plants, along with upgrades and expansions to transmission and distribution networks.
The projects will be backed by guarantees from the European Commission. EIB Vice President Ambroise Fayolle is expected to share additional details about the commitment at a European Union–African Union summit taking place later on Monday in Luanda, the capital of Angola.
Don’t Miss This:
17 Countries Pledge To Concrete Plans To Scale Up Electricity Access As Mission 300 Expands
Image Credit: CNBC Africa
