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EU: €44 billion for renewable energy in sub-Saharan Africa

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Friday, 12 October 2018

EU: €44 billion for renewable energy in sub-Saharan Africa

The European Union (EU) remains convinced that financial commitment is the best way to combat climate change; a global phenomenon. The organisation wants to invest more in zero CO2 emission projects in Africa. “As Europe, we know that some parts of the world are more vulnerable to climate change than others. That is why we have devised a €44 billion external investment plan for projects in Africa,” said Maros Sefcovic, Vice-President responsible for energy union in the European Commission, at the second annual Bloomberg World Business Forum on Wednesday, September 26, 2018. The investment aims to shift households to clean energy and solar energy in order to achieve sustainable cities in sub-Saharan Africa. According to the African Union, 1.6 billion people in rural and semi-rural areas do not have access to electricity. They use traditional fuels such as wood and as a result, there is a problem of deforestation. Smoke from burning wood is a source of pollution that impacts human health. Hence the international community’s concern. Sefcovic also said that Europe was ready to inject up to €300 billion into climate change projects from 2021-2027, of which €100 billion will be devoted to research and innovation in clean energy.

Source: afrik21.africa