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African Development Bank Group approves $379.6 million Desert to Power financing facility for the G5 Sahel countries

The Board of Directors of the African Development Bank Group has approved the Desert to Power G5 Sahel Financing Facility, covering Burkina Faso, Chad, Mali, Mauritania, and Niger. The Bank envisages to commit up to $379.6 million in financing and technical assistance for the facility over the next seven years.
The Desert to Power G5 Financing Facility aims to assist the G5 Sahel countries to adopt a low-emission power generation pathway by making use of the region’s abundant solar potential. The facility will focus on utility-scale solar generation through independent power producers and energy storage solutions. These investments will be backed by a technical assistance component to enhance implementation capacity, strengthen the enabling environment for private sector investments, and ensure gender and climate mainstreaming.
The facility is expected to result in 500 MW of additional solar generation capacity and facilitate electricity access to some 695,000 households. Over the lifespan of the project, it is expected to reduce carbon emissions by over 14.4 million tons of carbon dioxide equivalent.
The Board of the Green Climate Fund approved $150 million in concessional resources in October 2021 for the facility, which is expected to leverage around $437 million in additional financing from other development finance institutions, commercial banks and private sector developers. The Global Center on Adaptation is providing technical assistance to strengthen adaptation and resilience measures undertaken in the facility as part of the Africa Adaptation Acceleration Program in partnership with the African Development Bank.
The African Development Bank’s Vice President for Power, Energy, Climate Change and Green Growth, Dr. Kevin Kariuki said: “The innovative blended finance approach of the Desert to Power G5 Sahel Facility will de-risk, and therefore catalyze, private sector investment in solar power generation in the region. This will lead to transformational energy generation and bridge the energy access deficit in some of Africa’s most fragile countries.”
Dr. Daniel Schroth, the Bank’s Acting Director for Renewable Energy and Energy Efficiency, added: “The facility will also support the integration of larger shares of variable renewables in the region’s power systems, notably through the deployment of innovative battery storage solutions and grid investments.”
The facility will be implemented as part of the broader Desert to Power initiative, a flagship program led by the African Development Bank. The objective is to light up and power the Sahel region by adding 10 GW of solar generation capacity and providing electricity to around 250 million people in the 11 Sahelian countries by 2030.
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African Development Bank participates in the World Circular Economy Forum (WCEF)
What: African Development Bank participates in the World Circular Economy Forum (WCEF)
Who: African Development Bank, Nordic Innovation and the Finnish Innovation Fund Sitra, with international partners
When: 30 May - 2 June 2023
Where: Helsinki, Finland and online
A delegation led by African Development Bank Director of Climate Change and Green Growth Anthony Nyong, is at the 2023 World Circular Economy Forum (WCEF2023) in the Finnish capital Helsinki.
WCEF2023 is the seventh edition of the annual forum co-organised by Nordic Innovation and the Finnish Innovation Fund Sitra, with international partners, including the African Development Bank. The forum brings together business leaders, policymakers and experts from around the world to present the best circular economy solutions. WCEF examines how societies and businesses can seize new opportunities to accelerate the global transition towards a circular economy to achieve the UN Sustainable Development Goals. WCEF is the world’s best known neutral global circular economy event and platform for the global circularity movement.
To leverage and build on the results of last year’s WCEF and showcase circular economy ambition in Africa, a strong engagement of the African Development Bank is planned at WCEF2023. This includes speaker roles at plenary sessions, side events and hosting an African delegation of six participants from member countries of the African Circular Economy Alliance (ACEA) and African organisations to participate and speak at the event alongside the Bank’s mission team.
African Development Bank Director of Climate Change and Green Growth Anthony Nyong will participate in a guided dialogue during a session titled “Unlocking Finance for a circular and regenerative economy” organised by Circle Economy together with European Investment Bank (EIB). ACEA, whose secretariat is based at the African Development Bank’s headquarters in Abidjan, Côte d’Ivoire, will join in a session titled “Circular strategies and road maps,” organised by The Global Alliance on Circular Economy and Resource Efficiency.
The African Development Bank will host a stand at the WCEF Exhibition Area. This will give the opportunity to African Circular Economy Facility (ACEF), ACEA and its partners to showcase solutions to a global audience to attract partners and financiers for scaleup.
The Bank organises / has interventions in the following sessions:
TUESDAY, 30 MAY
Plenary Sessions at Helsinki Fair Centre
9:30-10:30
IFI CEN high-level working meeting
13:30 - 14:45
Unlocking finance for a circular and regenerative economy
THURSDAY, 1 JUNE
Accelerator Sessions, venues across Helsinki
8:30-13:00 (UTC+3)
Place: Messukeskus conference centre, Messuaukio 1, Helsinki and online
Accelerator session: African Voices to circular Economy
10:00 – 13:00
Accelerator session: International Financing and Funding for World Circular Economy Business Opportunities
16:00 – 17:30
Accelerator session: A circular economy that works for everyone: ensuring a just and jobs-rich transition to a sustainable future for all

Official WCEF2023 website: https://wcef2023.com/about/
Accelerator Session: https://wcef2023.com/sessions/african-voices-showcasing-circular-economy-ambition-in-africa/
Confirm your live attendance as soon as possible by registering through this link
Livestream on the WCEF2023 website and YouTube channel.
Media contact: Sonia Borrini, Communications and Knowledge Management Specialist, Climate Change and Green Growth Department | email : s.borrini@afdb.org