Ethiopia: AfDB, Japanese Gov't launch Japan-Africa Energy Initiative

Addis Ababa, Ethiopia (PANA) - The African Development Bank (AfDB) and the Government of Japan have signed a Letter of Intent to launch the Japan-Africa Energy Initiative (JAEI) to provide significant support to the New Deal on Energy for Africa, aimed at achieving universal access to energy by 2025, using available energy sources and the most advanced technologies.

According to the AfDB media channel, the deal was signed on the sidelines of the just-ended African Union (AU) Summit in Addis Ababa, Ethiopia.

It said that following discussions initiated by African leaders during the 6th Tokyo International Conference on African Development (TICAD-VI) in Nairobi in 2016 and a visit of the Bank’s President, Dr. Akinwumi Adesina, to Japan, Japan confirmed its commitment to support the development of the Japan-Africa Energy Initiative.

The Initiative will significantly contribute towards Africa’s efforts to achieve universal access to energy and to transform its energy systems — through a balanced and pragmatic least-cost energy mix that encompasses renewable and conventional sources.

AfDB said that under the initiative, it will take the lead in project development in close consultation with Regional Member Countries, indicating that Japan stands ready to provide up to US$ 6 billion in both concessional and non-concessional finance for a variety of energy operations that will support the provision of electricity for homes, schools, hospitals, agriculture, industries and clean cooking.

The Initiative will support the full range of activities associated with public and private sector energy projects – preparation, construction and operations, through a mix of financing and technical assistance, it said.

Speaking at the signing ceremony, Adesina said: “I would like to thank the Government of Japan for their long-standing support to the AfDB, and to the African continent. I welcome Japan’s support for the New Deal on Energy for Africa through this Initiative, which is another milestone in the Bank’s long-standing collaboration with Japan and a strong endorsement of the Bank’s first High 5 to Light Up and Power Africa.”

Japan’s Ambassador to Ethiopia, Shinichi Saida, conveyed the message of Taro Aso, Deputy Prime Minister and Minister of Finance of Japan: “We strongly hope that, through this Initiative, Japan can contribute to accelerating the provision of electricity in Africa, including through its best available low-emitting clean coal technologies, thus leading to inclusive and sustainable growth in Africa.”

The Bank and the Government of Japan will work on the implementation arrangements over the coming weeks to effectively support projects as early as the end of 2017.
-0- PANA VAO 4July2017

04 july 2017 13:21:40

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