EIB Global Commits Over €1 Billion to Renewable Energy for Mission 300 in Sub-Saharan Africa
The European Investment Bank (EIB) has pledged more than €1 billion to support renewable energy projects in Sub-Saharan Africa under the Mission 300 initiative, aiming to connect 300 million people to electricity by 2030. This financing will be managed through EIB Global and will focus on hydropower, solar, and wind projects. The total investment in renewable projects across Africa is expected to exceed €2 billion over the next two years. Nearly 600 million people in the region currently lack electricity access.
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The European Investment Bank (EIB) has pledged over €1 billion for renewable energy projects in Sub-Saharan Africa, supporting Mission 300's goal of connecting 300 million people to electricity by 2030. This initiative, launched by the World Bank Group and African Development Bank Group, focuses on hydropower, solar, and wind energy.
EIB Global will manage the financing, which aligns with the EU's Global Gateway strategy. The total investment in renewable energy in Africa is projected to exceed €2 billion over the next two years. Currently, nearly 600 million people in Sub-Saharan Africa lack reliable electricity access.
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