• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

African Development Fund approves $5.5m grant to fund energy project in Ethiopia, others

3 years ago
in Banking & Finance, Energy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
58
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

African Development Fund approves $5.5m grant to fund energy project in Ethiopia, others

The Board of Directors of the African Development Fund has approved a $5.5 million technical assistance grant to kick-start the roll-out of the flagship Desert to Power initiative in the Eastern Sahel region countries of Djibouti, Eritrea, Ethiopia and Sudan.

Known as the East Africa Regional Energy Project, it will be financed through the ADF-15 Regional Public Good window of the African Development Fund, the concessional arm of the African Development Bank Group.

The project will develop technical studies for regional solar parks and associated battery storage near regional energy interconnectors, high-voltage cables that connect the electricity systems of neighboring countries. The initiative will also strengthen the technical capacity of the implementing agency, the Intergovernmental Authority on Development (IGAD), a trade bloc that includes governments from the Horn of Africa, Nile Valley and the Great Lakes region.

IGAD Executive Secretary, Dr. Workneh Gebeyehu, said: “This Desert to Power project is timely in this post-Covid-19 era, which clearly highlighted the importance of reliable energy services. It has also come at a time when IGAD is planning to take its Regional Infrastructure Master Plan in the energy sector to real implementation. It is an important milestone in addressing renewable energy investment gaps in the region, and will reduce the adverse effects of climate change and diversifying the energy mix leading to energy security.”

The East Africa Regional Energy Project follows on the approval by the Board of Directors of the African Development Fund of the West Africa Regional Energy Project, in July 2021. The Desert to Power program is a flagship renewable energy and economic development initiative led by the African Development Bank.

It aims to accelerate socioeconomic development through the deployment of solar technologies at scale in the 11 countries of the Sahel region (Burkina Faso, Chad, Djibouti, Eritrea, Ethiopia, Mali, Mauritania, Niger, Nigeria, Senegal and Sudan).

RelatedPosts

Global Miners Raked in $700bn in 2024 Despite Rising Pressures

ADB Celebrates Customer Service Week with Renewed Commitment to Enhance Service Experience

Gold Price Surpasses $4,000 for First Time

Dr. Daniel Schroth, Acting. Director of the Renewable Energy and Energy Efficiency Department of the African Development Bank, said: “The approval of this regional technical assistance program will accelerate the roll-out of the Desert to Power initiative in the eastern Sahel. As a result, the region will move one step closer to harnessing its tremendous solar energy potential to spur accelerated economic and social development.”

Desert to Power will ultimately add 10 GW of solar generation capacity and provide electricity to around 250 million people in the 11 Sahelian countries by 2030. This is in line with one of the African Development Bank’s High 5 strategic priorities, namely Light up and power Africa.

Tags: African Development Fund approves $5.5m grant to fund energy project in EthiopiaDjiboutiEast Africa Regional Energy ProjectEritreaEthiopia and Sudan.others
No Result
View All Result

Highlights

“We Want to Win This Game”- Otto Addo’s Black Stars Aim for World Cup Qualification Against Central African Republic

President Kurt Edwin Simeon-Okraku appointed Chairperson of FIFA Anti-Racism and Anti-Discrimination Committee

England, Portugal, and Norway Poised for 2026 World Cup Qualification

Spending Smarter to Boost Growth

Asante Gold Reports Strong Exploration Results at Bibiani and Chirano Mines

Economic Uncertainty Can Test the Resilience of the Foreign Exchange Market

Trending

Features

Global Miners Raked in $700bn in 2024 Despite Rising Pressures

October 8, 2025

Global Miners Raked in $700bn in 2024 Despite Rising Pressures The global metals and mining industry posted...

ADB Celebrates Customer Service Week with Renewed Commitment to Enhance Service Experience

October 8, 2025

Gold Price Surpasses $4,000 for First Time

October 8, 2025

“We Want to Win This Game”- Otto Addo’s Black Stars Aim for World Cup Qualification Against Central African Republic

October 8, 2025

President Kurt Edwin Simeon-Okraku appointed Chairperson of FIFA Anti-Racism and Anti-Discrimination Committee

October 8, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.