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As part of the US-African Leaders Summit, on Tuesday, August 5, 2014, African Development Bank (AfDB) Group President, Donald Kaberuka, reaffirmed the AfDB’s support to advance the Power Africa initiative, with a commitment of $3 billion over a 5-year period. This support was originally announced by the AfDB, as an anchor Power Africa partner on the continent, in July 2013. In 2013 only, AfDB interventions related to focus countries (Ethiopia, Ghana, Kenya, Liberia, Nigeria and Tanzania) amounted to over $600 million.
Under the enhanced partnership announced Tuesday, the United States and AfDB will collaborate on scaling up the use of off-grid and mini-grid technologies, supporting geothermal power development, and strengthening regional power trading between African countries among others. Over the next year, the AfDB expects to commit around a billion dollars in support of energy projects in Ethiopia, Ghana, Kenya, Liberia, Nigeria, and Tanzania, the six Power Africa focus countries. Once implemented, these operations would contribute towards 5-10% of the stated Power Africa goal of developing 10,000 megawatts of new power generation in Sub-Saharan Africa.
The AfDB supports far-reaching power sector reforms and provides technical assistance, financing and guarantees for power generation, transmission and distribution projects in Africa. The AfDB Group – including the concessional lending window African Development Fund (ADF), to which the United States contributes – works directly with governments and private investors to advance critical reforms needed to attract public and private financing and build the capacity in Africa’s power sector. AfDB commitments to Africa’s energy sector currently total over $12 billion, and are projected to increase by $2 billion in the coming year.
Examples of joint activities under the anchor partnership include: