US$ 1 billion for Africa’s energy sector
By Helen Wright25 June 2012
The African Development Bank (AfDB) has announced plans to commit US$ 1 billion a year to the continent's energy sector.
AfDB president Donald Kaberuka said the funds were part of the Sustainable Energy for All (SE4All) initiative, which was launched by the UN in September 2011 with the aims of ensuring universal access to electricity.
Mr Kaberuka said, "Promoting affordable and clean energy access is a critical development theme for Africa and for the AfDB."
Energy access in Africa is still the lowest in the world, with at least 625 million people in sub-Saharan Africa without access to modern energy services, relying instead on biomass for cooking, heating and lighting.