The African Development Bank (AfDB) has provided $1 million in grant funding to seven African countries through its Sustainable Energy Fund for Africa (SEFA) to help decarbonize the continent’s transportation systems.
The beneficiaries are Nigeria, Rwanda, Senegal, Kenya, Morocco, South Africa, and Sierra Leone.
The funding, which is part of the AfDB’s Green Mobility Facility for Africa (GMFA), will help the seven target countries prepare for the deployment of electric vehicles. The AFDB wishes to address the issue of air pollution, which contributes to global warming.
“The AfDB is committed to building a sustainable future that is more resilient to the effects of climate change by catalysing private investment in low-carbon solutions, especially in the mobility sector that connects people to essential services, jobs, education and opportunities,” says Nnenna Nwabufo, director general of the AfDB for East Africa.
According to the Abidjan-based financial institution, the goal is to create an environment and business models conducive to green mobility in collaboration with the public and private sectors.
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“The initiative will contribute to the reduction of 2.1 million tons of CO2 equivalent on the continent and the creation of at least 19,000 direct jobs,” the statement from the AfDB read.
SEFA will gradually draw on $136 million in funding pledged by Germany ($114 million), Denmark ($14 million), and the United Kingdom ($5 million) at the 26th United Nations Conference of the Parties on Climate Change (COP26) in November 2021 in Glasgow, Scotland, to accelerate green mobility in Africa.
