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The African Development Bank wants to free the huge energy potential of Africa

The new president of the African Development Bank (AfDB), the Nigerian Akinwumi Adesina, announced it would launch a “New Deal” for Africa in the development of energy resources. In Abidjan, at its inauguration, Mr. Adesina said: “Unlocking the enormous energy potential of Africa, for Africa, will be a major focus of the Bank.”

According to the newly elected president on May 28 for a term of five years, the ADB, the institution, which injects each year for 50 years two billion dollars in projects on the continent, will “be bold, creative to establish strategic partnerships on energy “. Adesina promised that “the Bank will be the leader in this critical issue, because nothing is more important for the growth and economic development of Africa.”

The energy: the economies of engine

Adesina noted that “the more energy, the more people are successful”. Moreover, the new president lamented that “Africans spend most of their meager hard-earned money to pay forenergy”. He also placed great emphasis on the development of the renewable energy sector.According to him, the African continent has an  “unlimited potential in solar resources, wind, hydro and geothermal.”



Supporting countries emerging from conflict

“They need our understanding and they deserve our support in their ability to build political, economic and social strongest. “Said Mr. Adesina. For his part, the Ivorian president Alassane Ouattara suggested that “ADB will also continue to increase the level of resources for financing needs are growing rapidly in view of the magnitude of Africa’s financing needs. “