$136m Made Available At COP26 to Nigeria, Others For Sustainable Energy

$136m Made Available At COP26 to Nigeria, Others For Sustainable Energy

Author: Africa Business Radio November 15, 2021 Duration: 27:34
News Express
Business
As COP26 Rounded off over the weekend, Nigeria and other member countries who are shareholders of the African Development Bank are to benefit from $136 million in additional donor commitments for the Sustainable Energy Fund for Africa.
SEFA is a multi-donor trust fund managed by the African Development Bank. Denmark, SEFA’s founding partner and first donor, unveiled 100 million Danish kroner (around $14 million) in fresh commitments. Germany, another SEFA donor country, recently increased its
contribution to SEFA by another €100 million. The significant German contribution to SEFA was first announced during the UN high-level dialogue on energy last September.
Nigeria, though AfDB’s biggest continental equity holder and Africa’s largest economy, her citizens bear the brunt of poor access to electricity.
As of June 2020, the World Bank country update indicated that Nigeria had the world’s highest population of people without access to electricity.

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