…..COP28: Italy offers €5m Sustainable Energy Fund to Nigeria, other African countries
ASHENEWS reports that the Italian government has offered €5 million as its contribution to the Sustainable Energy Fund for Africa.
The Italian Deputy Minister of Environment and Energy Security, Vannia Gava, announced the new contribution at the ongoing 2023 United Nations Climate Change Conference, COP28 in Dubai.
“This new contribution of €5 million to the Sustainable Energy Fund for Africa (SEFA) Special Fund strengthens the attention that the Italian Government devotes to Africa, a geographical region of priority importance for our country’s energy and climate policies,” Gava said.
Also speaking, the Director of the Renewable Energy and Energy Efficiency Department at the African Development Bank, Dr. Daniel Schroth, said “Italy’s new contribution to SEFA is a powerful statement of its commitment to Africa’s just energy transition.
“This funding will further bolster SEFA’s efforts to deliver sustainable and reliable energy access across the continent, driving economic growth and enhancing the quality of life for millions.”
SEFA is a multi-donor Special Fund that provides catalytic finance to unlock private sector investments in renewable energy and energy efficiency.
Aimed at contributing to universal access to affordable, reliable, sustainable, and modern energy services for all in Africa, the fund offers technical assistance and concessional finance instruments to remove market barriers, build a more robust pipeline of projects, and improve the risk-return profile of individual investments.
…..COP28: Italy offers €5m Sustainable Energy Fund to Nigeria, other African countries
