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May 20, 2024
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AfDB Commits $2 Billion into Clean Cooking for Africa

The African Development Bank (AfDB) has pledged the sum of $2 billion to promote clean cooking, particularly among women and children in Africa.

AfDB President, Akinwumi Adesina, said at an International Energy Agency conference on clean cooking in Africa on Tuesday in Paris, France, that the pledge amounts to 20% of the bank’s annual spending on energy.

Adesina said clean cooking transcends mere culinary activities. It encompasses human dignity, fairness, justice, and equity for women.

According to the AfDB’s president, ensuring access to clean cooking methods will preserve at least 200 million hectares of forests worldwide, including 110 million in Africa, by the year 2030.

“Access to clean cooking is more than cooking. It is about human dignity, fairness, justice, and equity for women. It is more than the lighting of the stoves; it is about life.

“Access to clean cooking will save at least 200 million hectares of forests globally, with 110 million being in Africa, by 2030.

“The African Development Bank will play a major part in this collective effort and will now allocate 20% of all its financing for energy in Africa to clean cooking.

“I am therefore pleased to announce that the African Development Bank will commit $2 billion to clean cooking over the next ten years,” Adesina said.

The French government lauded the African Development Bank for its pivotal role and dedication to promoting clean cooking initiatives across Africa.

French President Emmanuel Macron announced that France will commit €100 million ($108.6 million) over the next five years to advance clean cooking technologies in Africa.

He also said that additional funds would be mobilized through the Paris Pact for People and the Planet and the Finance in Common initiative to support this project.

“As part of the Paris Pact for People and the Planet, and with the commitment of Tanzania, Norway, the International Energy Agency, the AfDB, and many other partners, we are taking a step forward against this silent scourge today.

“We are mobilizing $2.2 billion to provide clean alternatives to populations in Africa.

“France pledges to invest €100 million over five years in clean cooking methods and will mobilize even more through the Paris Pact for People and the Planet and Finance in Common,” Macron said.

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