The African energy sector will be on top of the African Development Bank’s priority list once the bank’s capital increase to USD100 billion is approved at the bank’s annual meeting in Ivory Coast this week, according to Reuters.
“Because of the power deficit, we are prioritising all forms of energy. Some are renewables, but there’s no either/or,” AfDB President Donald Kaberuka was quoted by Reuters. “The pipeline is enormous.”
Infrastructure projects will compose 60 percent of AfDB’s planned projects given the capital increase. Of that volume, 60 percent will focus on power, Kaberuka said.