The World Bank has announced a new initiative to accelerate the transition to clean and sustainable energy in Sub-Saharan Africa. The program called Accelerating Sustainable and Clean Energy Access Transformation (Ascent), aims to benefit at least 100 million people in the region by 2030.
Ascent will provide technical and financial support to 20 countries in Sub-Saharan Africa, starting with four pilot countries: Tanzania, Rwanda, Somalia, and Sao Tome and Principe. The program will help these countries develop and implement national energy plans, expand grid and off-grid electrification, and promote energy efficiency and renewable energy sources.
The World Bank Group President Ajay Banga unveiled the $15 billion project during the International Development Association’s (IDA) mid-term review meeting of its 20th financing round in Zanzibar. He said that Ascent was a “game-changer” for the region, where only 48 percent of the population and 26 percent of rural areas have access to electricity.
“The lack of energy access is the most significant challenge to development progress in the region today,” he said. “It hinders economic recovery and faster progress toward poverty reduction. It also results in significant food spoilage owing to lack of refrigeration, particularly in countries already plagued with food insecurity, and plays a role in poor health outcomes given that less than half of all hospitals in the region have reliable electricity access.”
Banga added that Ascent would leverage $5 billion from IDA and $10 billion from other sources, including the World Bank’s private sector arms, the International Finance Corporation, and the Multilateral Investment Guarantee Agency, as well as public and private sector partners.
Ascent is part of the World Bank’s broader commitment to support the global clean energy transition and achieve Sustainable Development Goal 7 of ensuring access to affordable, reliable, sustainable, and modern energy for all by 2030. The program is also aligned with the Paris Agreement on climate change, which calls for reducing greenhouse gas emissions and increasing the share of renewable energy in the global energy mix.
According to the World Bank, Ascent will involve three main components: developing regional and national platforms to enable economies of scale and cost reduction strategies, expanding grid electrification through investment and technical assistance, and financing strategies to improve energy access for households, enterprises, farmers, schools, health clinics, and other social needs.
The program will also prioritize the needs and opportunities of women, who are often disproportionately affected by the lack of energy access and face barriers to participation in the energy sector. Ascent will provide women with additional income-generating opportunities and empower them to unleash their economic potential.
The World Bank said that Ascent was designed to build on the lessons learned from previous energy programs in the region, such as the Lighting Africa initiative, which has provided access to clean and affordable lighting to over 28 million people in Sub-Saharan Africa since 2007.
The Ascent program is expected to launch in early 2024, after the completion of the preparatory phase and the approval of the World Bank’s Board of Executive Directors. The World Bank said that it would work closely with the African Union, the African Development Bank, the Regional Economic Communities, and other stakeholders to ensure the success of the program.
The Ascent program is a sign of hope for millions of people in Sub-Saharan Africa who lack access to reliable and clean energy. By supporting the development of sustainable and inclusive energy systems, the program will not only improve the quality of life and livelihoods of the people but also contribute to the global efforts to combat climate change and achieve the 2030 Agenda for Sustainable Development.
Source: The East African
