Rédaction Africa Links 24 with NewDawn
Published on 2024-03-20 04:29:48
The Vice President for Regional Development, Integration, and Business Delivery at the African Development Bank Group, Marie-Laure Akin-Olugbade, emphasized the importance of Africa leveraging Austria’s expertise in renewable energy to advance its own renewable energy sector. She highlighted Austria’s remarkable achievement of being 80% powered by renewable energy and how African countries, with abundant sources of solar, hydro, wind, and geothermal energy, could benefit from Austrian knowledge and technologies.
With Africa boasting almost unlimited potential in solar capacity, significant hydro, wind, and geothermal resources, there is a great opportunity for the continent to harness renewable energy for its development. During a meeting with Austrian members of parliament, Akin-Olugbade discussed the potential collaboration between Africa and Austria in the renewable energy sector.
The MPs from Austria were on a tour of Côte d’Ivoire and Burkina Faso, where they learned about the African Development Bank’s $20 billion Desert to Power initiative. This initiative aims to generate 10,000 megawatts of solar power to benefit 250 million people in the Sahel region, including Burkina Faso. The delegation was also briefed on the Bank’s work in agriculture, industrialization, waste management, water, and sanitation, as well as the challenges of insecurity in the Sahel region.
Akin-Olugbade expressed gratitude to Austria for its consistent support for the Bank, particularly through the African Development Fund and various trust funds and initiatives. Austria has been a member of the Bank since 1983 and has actively participated in capital increases and replenishments of the African Development Fund. In the 16th replenishment in December 2022, Austria contributed Euros 123 million (about $135 million), showcasing its commitment to the development efforts in Africa.
Over the past five years, the African Development Fund has made significant strides in connecting millions of people to electricity, supporting agriculture, improving infrastructure, and enhancing access to water and sanitation services. The Fund was ranked second among 49 bilateral and multilateral development agencies for the quality of its assistance by the Centre for Global Development.
Austria’s Ambassador to Côte d’Ivoire and Senegal, Ursula Fahringer, highlighted Austria’s economic interests in Côte d’Ivoire and the importance of economic missions to strengthen ties between the two countries. The meeting was also attended by the Bank Group’s Executive Director for Austria, Japan, Saudi Arabia, Brazil, and Argentina, Takaaki Nomoto.
Overall, the collaboration between Africa and Austria in the renewable energy sector has the potential to drive sustainable development and address pressing energy needs on the continent. Through knowledge sharing and strategic partnerships, both regions can work together to create a more sustainable and energy-efficient future for all.
Read the original article on The Newdawn Liberia
