Enterprise Television- AfDB to Provide Electricity to 29.3m Africans by 2020
The African Development Bank, AfDB, is bringing electricity to 29.3 million African households by 2020 through the new strategy titled New Way of Working.
President of the bank, Akinwumi Adesina, called on the UN Secretary General to join him in supporting the green climate fund and the global environment facility to also work differently, and step up support to co-pay for climate risk insurance for vulnerable African countries.
Adesina noted that the bank has stepped up and pledged to support African countries to pay for insuring themselves against catastrophic weather events that displace their public expenditures.
According to him, AfDB plans to provide $76 million in 2018 for the payment of insurance premiums, with participating countries providing $31.5 million and the African Risk Capacity Agency providing $16 million.
Figures from AfDB indicate that over 20 countries have indicated interest in participating in the bank-supported initiative.