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World Economic Forum Annual Meeting 2016
Over 40 heads of state and government, as well as 2,500 leaders from business and society, have gathered at the 46th World Economic Forum Annual Meeting, taking place from January 20 to 23 in Davos-Klosters, Switzerland, under the theme, “Mastering the Fourth Industrial Revolution”. The 2016 meetings focus on critical global issues such as security, climate change, global growth and commodity prices.
During the meeting, the African Development Bank presented its New Deal on Energy for Africa: A transformative partnership to light up and power Africa by 2025. The New Deal on Energy for Africa aims to accelerate energy investments to reach universal access to electricity by 2025. It takes a holistic view of Africa’s energy sector including on-grid generation, transmission and distribution and decentralized solutions (mini-grid and off-grid) along with cleaner cooking solutions.
AfDB President Akinwumi Adesina outlined the New Deal at a press conference on Thursday, January 21 at 12:25 pm GMT+1 (11:25 am, Abidjan time). Also on Thursday, the Bank President spoke about the impact of industrialization on economic growth and productivity on the continent during a panel session titled “Africa’s Next Challenge”.