Austrian renewable energy expertise could benefit Africa, says Marie-Laure Akin-Olugbade, vice-president of the African Development Bank

by MMC
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ABIDJAN, Ivory Coast, March 20, 2024, /African Media Agency/-African Development Bank Group Vice President for Regional Development, Integration and Service Delivery, Marie-Laure Akin- Olugbade said that as Africa develops its renewable energy sector, it can benefit from the expertise of Austria, a country largely powered by renewable sources.

“Austria is 80% powered by renewable energy. The expertise of Austrian companies is extremely valuable for Africa which has abundant sources of solar, hydro, wind and geothermal energy,” Vice President Akin-Olugbade told Austrian MPs at a meeting on Monday evening at the Bank’s headquarters in Abidjan.

Africa has almost unlimited solar capacity potential (11 TW), 350 gigawatts of hydropower, 110 gigawatts of wind power and 15 gigawatts of geothermal power.

MPs Hermann Brückl and Sibylle Hamann and their delegation from the Austrian Parliament were on tour in Ivory Coast and Burkina Faso. On clean energy, they heard how the Bank’s $20 billion Desert to Power initiative aims to produce 10,000 megawatts of solar power for 250 million people in 11 countries in the Sahel region , including Burkina Faso.

Accompanied by the Austrian Ambassador to Côte d’Ivoire and Senegal, Ursula Fahringer, the parliamentarians were also informed of the Bank’s work in the agricultural sector, notably the introduction of special agro-industrial processing zones (SAPZ ), industrialization, waste management in Abidjan, water and sanitation and the effects of insecurity, particularly in the Sahel region.

Akin-Olugbade thanked Austria for its continued support to the Bank and its concessional window, the African Development Fund, as well as various trust funds and initiatives.

Austria, which joined the Bank in 1983, has participated in all general capital increases of the Bank and in the replenishment of the African Development Fund. In the 16th replenishment of the Fund in December 2022, Austria contributed €123 million (approximately $135 million), an increase of 12.6% compared to the previous replenishment. More than $8.9 billion was mobilized during the 16th replenishment, the largest in the Fund’s history. .

Over the past five years, the African Development Fund has connected 15.5 million people to electricity, supported 74 million people by improving agriculture, built or rehabilitated nearly 9,000 kilometers of roads. It has provided 50 million people with access to transport and 42 million people with access to better water and sanitation services.

The Center for Global Development ranked the ADF second among 49 bilateral and multilateral development agencies for the quality of its aid.

Ambassador Ursula said Austria has a strong economic interest in Ivory Coast and “this is why it regularly sends economic missions to Ivory Coast. Another mission is expected in June.

The meeting was attended by the Bank Group’s Executive Director for Austria, Japan, Saudi Arabia, Brazil and Argentina, Takaaki Nomoto.

Vice President Akin-Olugbade was accompanied by several senior officials of the Bank, including the Deputy Managing Director for the Western Region, Joseph Ribeiro, the Senior Director of the Strategy and Operational Policy Department, Caroline Kende-Robb , the Bank’s Treasurer, Omar Sefiani, the Director and Special Advisor to the Office of President Gauthier Boulard, Yvette Glele-Ahanhanzo, Director of Portfolio Monitoring and Delivery, and Director of Strategy and Delivery within the firm of President Josiah Maxmillan Bankole Jarett.

Distributed byAfrican Media Agency on behalf of the African Development Bank

The post office Austrian renewable energy expertise could benefit Africa, says Marie-Laure Akin-Olugbade, vice-president of the African Development Bank appeared first on African Media Agency.

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