France Pledges $2billion for Energy Project in Africa

France has offered to provide $2 billion to help develop renewable energy  in Africa, French President Francois Hollande disclosed at the climate change summit in Paris.

According to Hollande, the country has marked down about $6.4 billion, over the next four years to help with electrification in Africa. Of that, one third is to help the continent develop renewable energy.

Hollande’s announcement came during a meeting with about a dozen African leaders to discuss climate threats in their countries.

He also announced about $1.5 billion for an African Union project called the Great Green Wall to help people plant trees and adapt to an encroaching Sahara desert.

Akinwumi Adesina, the president of the African Development Bank similarly talked about a “new deal” on energy for Africa.

He said the bank will invest $12 billion (11.3 billion euros) in energy projects by 2020.

“The Africa Renewable Energy Initiative is one of the key parts of our efforts to light up and power Africa,” he said.

President Muhammadu Buhari also in Paris on Tuesday, December 1 urged developed countries to make strong financial commitments to the $14 billion urgently needed to revive the Lake Chad Basin.

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