The African Trade Insurance (ATI) and European Investment Bank (EIB) have launched a $1 billion Renewable Energy Facility for sub-Saharan Africa.
The facility is supported by the government of Germany and the EU as part of their commitment to backing the UN’s Sustainable Energy for All initiative.
The facility was launched at the Berne Union Spring Meeting hosted by ATI and supported by the government of Kenya. Representing Kenya’s Cabinet Secretary for the National Treasury, Henry Rotich, and Kenya Principal Secretary for Energy Eng. Joseph Njoroge said Kenya was honoured to be hosting this important meeting of insurers that underpin a large amount of global investments and financing.
“This meeting is shining the spotlight on Africa at an opportune moment. The continent now has six of the world’s ten fastest growing economies. Add to this, Africa’s renewed emphasis on infrastructure development combined with innovation, natural resources and improved regulatory structures. Quite simply, the message we would like to relay to the global investment community through this meeting, is that Africa is brimming with opportunities.
“This facility is particularly important because it reassures financiers and investors in the energy sector in Africa that their investments are fully covered and safe and this eventually ensure the production of cheaper energy which benefits the final energy users,’’ said Ngoroje.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from LEADERSHIP Nigeria Newspapers. Contact: [email protected]
SPONSORED19 hours ago
How To Last For 25 Minutes Longer In Bed, Permanently End Pain And Embarrassment Of Weak Erection
NEWS23 hours ago
PDP Set To Offer Presidency For Sale, BCO Alleges
FEATURED20 hours ago
Ado: Community Under Siege As Robbers Go On Rampage
NEWS12 hours ago
Osun Poll: Massive Turnout Of Voters As Oyetola , Adeleke Hails The Exercise
NEWS20 hours ago
Dankwambo As PDP Presidential Flag Bearer
NEWS24 hours ago
PMB Condoles With President Magufuli, Tanzanians On Ferry Disaster
NEWS11 hours ago
Osun Poll: Aregbesola, Omisore Disagree On Conduct Of Exercise
ENTERTAINMENT23 hours ago
Ramsey Noah Congratulates Genevieve Nnaji On ‘Lion Heart’ Success