The African Development Bank (AfDB) is providing $1 million to seven African countries through the Sustainable Energy Fund for Africa (SEFA). The effort will aid in the decarbonization of the continent’s transport networks.
The African Development Bank (AfDB) wishes to address the issue of air pollution, which contributes to global warming. It is donating $1 million to Kenya, Morocco, Nigeria, Rwanda, Senegal, South Africa, and Sierra Leone through its Sustainable Energy Fund for Africa (SEFA). The funding, which is part of the African Development Bank’s Green Mobility Facility for Africa (GMFA), will assist the seven target countries in preparing for the deployment of electric vehicles.
According to the Abidjan-based financial organisation, the goal is to create an environment and business models favourable to green mobility in conjunction with the public and commercial sectors. The effort will contribute to the reduction of 2.1 million tonnes of CO2 equivalent on the continent and the creation of at least 19,000 direct employment.
According to Nnenna Nwabufo, the AfDB’s Director General for East Africa, “The AfDB is dedicated to fostering a more resilient future to the consequences of climate change by catalysing private investment in low-carbon solutions, particularly in the mobility sector, which connects people to crucial services, employment, education, and opportunities.”
To promote green mobility in Africa, SEFA will progressively rely on $136 million in funds committed by Germany ($114 million), Denmark ($14 million), and the United Kingdom ($5 million) during the United Nations Conference of the Parties on Climate Change (COP26) in November 2021 in Glasgow, Scotland.
