The World Bank has announced plans to extend electricity service to 300 million Africans in partnership with the African Development Bank.
This ambitious project aims to halve the number of people living without electricity on the continent by 2030.
According to the World Bank, it will work on connecting electricity service to 250 million people, while the African Development Bank will support an additional 50 million people, as reported by Bloomberg today, Wednesday.
Ajay Banga, President of the World Bank, stated in a speech today, Wednesday, that the cost of the plan will amount to 35 million dollars, with some funding coming from the International Development Association, the World Bank’s arm to assist the poorest countries on concessional terms.
Access to electricity remains a significant challenge in many parts of Africa, with millions of people living without this essential service.
Lack of electricity not only affects daily life but also hinders economic development and access to education and healthcare.
The initiative by the World Bank and the African Development Bank aligns with the United Nations’ Sustainable Development Goals, particularly Goal 7, which aims to ensure access to affordable, reliable, sustainable, and modern energy for all by 2030. By providing electricity to 300 million
Africans, the project contributes to efforts to alleviate poverty and promote economic growth across the continent.
