Dr Akinwumi Adesina, President of the African Development Bank Group, recently disclosed that the bank was working on a Desert-to-Power Initiative, which would lead to the development of 10,000MW of solar power in the Sahel of Africa, providing electricity to 250 million people.
He said this while giving his opening remarks at the Knowledge Event 1 of the bank’s 2021 Annual Meeting, a three-day virtual event that started on Wednesday.
Adesina said Africa needed massive support to adapt to climate change, which has had devastating effects on the continent, adding that Africa should focus on climate resilience and green recovery.
“The African Development Bank is taking bold actions to build climate resilience for African countries, which is why the bank increased the share of total financing devoted to climate from nine per cent in 2016 to 35 per cent in 2019. We are expected to reach 40 per cent by the end of 2021.”