World Bank pledges $8.2bn to boost electricity in Sub-Saharan Africa
The World Bank Group has committed $8.2bn to improve electricity access across Sub-Saharan Africa. This investment aims to address the region’s significant power deficit, with nearly 600 million people still lacking electricity. The initiative, known as “Mission 300”, is a partnership with the African Development Bank Group to connect 300 million people to power. The programme also seeks to drive economic growth by linking electricity supply to job creation and industrial development.
TLDR
- The World Bank Group is investing $8.2bn to expand electricity access in Sub-Saharan Africa.
- “Mission 300” targets 300 million new connections by 2030, with 250 million from the World Bank and 50 million from the African Development Bank.
- Over 40 countries are involved, with more than 150 projects already underway and an extra $1.2bn mobilised.
- The initiative focuses on reforms, utility improvements, and attracting private sector investment.
- Improved electricity access is expected to boost jobs, support businesses, and enhance living standards across the region.
