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AUSTRIAN EXPERTISE IN RENEWABLE ENERGY COULD BENEFIT AFRICA, SAYS AFRICAN
DEVELOPMENT BANK’S VICE PRESIDENT MARIE-LAURE AKIN-OLUGBADE

Africa March 20, 2024 admin

ABIDJAN, Côte d’Ivoire, 20 March 2024, /African Media Agency/-The African
Development Bank Group’s Vice President for Regional Development, Integration
and Business Delivery Marie-Laure Akin-Olugbade...

ABIDJAN, Côte d’Ivoire, 20 March 2024, /African Media Agency/-The African
Development Bank Group’s Vice President for Regional Development, Integration
and Business Delivery Marie-Laure Akin-Olugbade has said as Africa develops its
renewable energy sector, it can benefit from the expertise of Austria—a country
largely powered from renewable sources.

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

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

The MPs, Hermann Brückl and Sibylle Hamann, and their delegation from the
Austrian Parliament, were on a tour of Côte d’Ivoire and Burkina Faso. On clean
energy, they heard how the Bank’s $20 billion Desert to Power initiative is
working to generate 10 000 megawatts of solar power for 250 million people
across 11 countries in the Sahel region including Burkina Faso.

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

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

Austria which joined the Bank in 1983, has participated in all General Capital
Increases for the Bank and the replenishment of the African Development Fund.
During the 16th replenishment of the Fund in December 2022, Austria contributed
Euros 123 million (about $135 million), an increase of 12.6% over the previous
replenishment More than $8.9 billion was mobilised during the 16th
replenishment, the largest in the history of the Fund.

The African Development Fund has in past five years connected 15.5 million
people to electricity, supported 74 million with improved agriculture, built or
rehabilitated nearly 9,000 kilometres of roads. It has enabled 50 million people
to gain access to transport and allowed 42 million people to access better water
and sanitation services.

The Centre for Global Development ranked ADF the second amongst 49 bilateral and
multilateral development agencies for the quality of its assistance.

Ambassador Ursula said Austria has a strong economic interest in Côte d’Ivoire
and “that is the reason it is sending regular economic missions to Côte
d’Ivoire. 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.

VP Akin-Olugbade was accompanied by several senior Bank managers including the
Deputy Director General for the West Region Joseph Ribeiro, the Senior Director,
Strategy and Operational Policies Department Caroline Kende-Robb, the Bank’s
Treasurer Omar Sefiani, the Director and Special Advisor in the President’s
Cabinet Gauthier Boulard, Yvette Glele-Ahanhanzo, Director for Portfolio
Monitoring and Delivery, and the Director for Strategy & Delivery in the
President’s Cabinet Josiah Maxmillan Bankole Jarett.

Distributed byAfrican Media Agency on behalf of African Development Bank

The post Austrian expertise in renewable energy could benefit Africa, says
African Development Bank’s Vice President Marie-Laure Akin-Olugbade appeared
first on African Media Agency.

Source:: African Media Agency2


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