Juliet Jacob Ochenje
The president of the World Bank, Ajay Banga, has disclosed a $5 billion World Bank reliable renewable energy plan that would benefit 100 million Africans in Africa before 2030.
Banga disclosed this at a conference of the International Development Association (IDA), on Wednesday.
He said the World Bank needs to figure out how to get more people connected to a more environmentally friendly electricity grid in order to achieve its new goal of reducing poverty on a “livable planet.”
He stated, “With $5 billion from IDA, we are on a mission to deliver reliable, affordable, renewable electricity to 100 million Africans.
“In addition to IDA’s pledge, the World Bank hopes to get an additional $10 billion in public and private funding to support the project.
“Goal of the strategy is to increase cross border energy trade, expand solar power, modernize current grids, and improve dependability.
“We must find a way to finance a different world, where climate is protected and poverty is defeated.”
