(Ecofin Agency) – In rural African communities, the lack of access to electricity remains the main obstacle to the development of economic activities, hence the need to finance projects capable of ensuring reliable access to energy.
Portugal’s Energias de Portugal (EDP) announced on April 20 that it will provide $1.1 million in financing for projects that contribute to the fight against energy poverty and exclusion in 5 African countries. Funding will come through the A2E CSR Fund and interested organizations can apply through May 22, according to a statement from the EDP.
This financing falls under 5y An edition of EDP’s A2E CSR programme, which aims to contribute to a just and inclusive energy transition in isolated and most vulnerable communities in certain regions of Africa.
“With this new version of the A2E Fund, we want to ensure that the most isolated and vulnerable communities have access to clean, affordable energy. We want to help them break the cycle of poverty while contributing to their social and economic development.said Miguel Stillwell D’Andrade, CEO of EDP.
Over its last four editions, the A2E CSR Fund has received more than 540 applications and invested $2.75 million in 28 projects that have directly impacted the lives of 120,000 people and, indirectly, the lives of nearly two million people in seven African countries, according to the EDP.
The average electrification rate for the five countries involved in this new funding, Mozambique, Nigeria, Malawi, Kenya and Rwanda, was around 44% in 2020.
Abdullah Diop
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