A robust replenishment of the African Development Fund will help the African Development Bank meet the region’s demand for renewable energy, said Bobby Pittman, AfDB vice president for infrastructure, private sector and regional integration.
“We have a rapidly growing pipeline of wind, hydro, co-generation, geothermal and solar power projects. We are working with our clients to help them access the possible climate finance via the Clean Development Mechanism, the Global Environmental Facility, or the Climate Investment Funds as the case may be,” Pittman said.
The AfDB-managed ADF helps to promote economic and social development in 38 least developed African countries.
ADF funds can also help boost the region’s agriculture sector, according to Kamal Elkheshen, the bank’s vice president for sector operations. The regional lender will upgrade irrigation systems and farm-to-market roads from 2010 to 2014. The projects are worth USD5.33 billion, the AfDB official said.
The bank will hold the fourth meeting of the ADF’s 12th replenishment in Tunisia Sept. 7-8.