African Development Bank, Germany Announce Major Initiatives in Energy Access, Private Sector Dev’t
Germany and the African Development Bank Group announced joint initiatives to accelerate energy access and private sector growth across Africa. The partnership, which was unveiled during a high-level meeting in Abidjan last week, includes strengthened support for the Mission 300 initiative, which aims to provide electricity access to 300 million Africans by 2030, and expanded financing for youth entrepreneurship programs.
As the largest contributor to the 16th replenishment of the African Development Fund, the Bank Group’s concessional window, and a key shareholder, Germany’s commitment reinforces its position as a strategic partner in Africa’s sustainable development agenda. The event brought together over 90 senior officials from the Bank, German Federal Ministry for Economic Cooperation and Development (BMZ), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), and Kreditanstalt für Wiederaufbau (KfW).
The partnership will enhance support for the Bank Group’s energy access programs, focusing on implementing National Energy Compacts across member countries.
“ The African Development Bank values this strong demonstration of commitment to build strategic partnerships and thanks Germany for its steadfast support to the Bank Group. By working together, we continue to lay the groundwork for a brighter, more inclusive future for Africa,” said Mrs. Marie-Laure Akin-Olugbade, Senior Vice President of the Bank Group.
Specific initiatives include expanded financing for renewable energy projects and support for regional power integration programs. The partnership builds on existing collaborations through the Sustainable Energy Fund for Africa and the Climate Action Window.
The partners also discussed programs to strengthen Africa’s private sector, emphasizing youth entrepreneurship and skills development. Key initiatives include increased support for Youth Entrepreneurship Investment Banks(link is external) and enhanced collaboration on the Build 4 Skills program. Additionally, discussions explored opportunities to support African countries’ regional integration efforts under the Africa Continental Free Trade Area.
“This deep dive came at the right moment as the development sphere is going through significant times of upheaval. I would like to echo the words of President Adesina, who said that to foster development on the continent, we need to move at scale. For this, we need development partners to join the ranks, and I am very proud that the African Development Bank and Germany strive to deepen their excellent cooperation.” BMZ Director General for Africa Ms Birgit Picket said.
During technical sessions, the partners explored opportunities for enhanced collaboration and co-financing at the country and regional levels, identifying “low-hanging fruits” and joint resource mobilization strategies for the M300 National Energy Compacts.
A key highlight of the meetings was the signing of significant subscription agreements under the Alliance for Green Infrastructure in Africa (AGIA). The signing marks a crucial step toward the first close of the AGIA Project Development Fund. The agreement brings together the African Development Bank, Africa50, the West Africa Development Bank, and KfW in a consolidated effort to accelerate green infrastructure development across the continent.
