FINANCE

Adeshina laments world sunniest region’s lack of electricity at G5 Sahel Summit

&NewLine;<p>Dr&period; Akinwumi Adesina&comma; president of the African&NewLine;Development Bank&comma; had arrived in Ouagadougou&comma; capital of Burkina Faso&comma; ahead of&NewLine;the G5 Sahel Summit&comma; and was received by Burkina Faso’s president&comma; Mark Roch&NewLine;Christian Kaboré&period;<br>&NewLine;<br>&NewLine;The Burkinabe president applauded the Bank’s Desert to Power initiative&comma; and&NewLine;also highlighted his country’s excellent relationship with the Bank&comma; expressing&NewLine;his thanks for the portfolio of projects implemented&period; The Bank president was an&NewLine;invited guest at the G5 Sahel Summit of heads of state and government which&NewLine;held on 13 September&period;<br>&NewLine;<br>&NewLine;President Adesina praised President Kaboré’s commitment&comma; vision and leadership&NewLine;in agreeing to host the summit&period; He stressed the importance of political will in&NewLine;the success of the &OpenCurlyDoubleQuote;Desert to Power” initiative&comma; whose goal is to guarantee&NewLine;universal access to electricity for over 60 million people through solar&NewLine;energy&period; It will also provide an opportunity to strengthen the south-south&NewLine;partnership as well as stimulate worldwide involvement in the initiative beyond&NewLine;the G5 Sahel countries&period; At least &dollar;20bn must be raised from development&NewLine;partners&period;<br>&NewLine;<br>&NewLine;The two presidents also discussed issues relating to the cotton sector&comma; and&NewLine;agreed on a policy of strengthening the domestic cotton industry&comma; so important&NewLine;for the economy of Burkina Faso&period; The African Development Bank’s president also&NewLine;expressed his sympathies for the terrorist acts that Burkina Faso has recently&NewLine;suffered and reaffirmed the Bank’s support to the country&period;<br>&NewLine;<br>&NewLine;During the summit&comma; the Bank presented its Desert to Power initiative to heads&NewLine;of state and government&period; President Adesina also drawn attention to the paradox&NewLine;that one of the world’s sunniest regions lacks access to electricity&colon; &OpenCurlyDoubleQuote;Now&comma;&NewLine;more than ever&comma; cooperation and cross-border trade in energy are essential to&NewLine;maintaining a secure supply over the long term given the challenges of climate&NewLine;change&comma;” he said&comma; adding that &OpenCurlyDoubleQuote;in Burkina Faso&comma; significant steps have been&NewLine;taken with the Bank-supported Yeleen rural electrification project&period;”<br>&NewLine;<br>&NewLine;As part of its electrification strategy for Africa&comma; the Bank is firmly&NewLine;committed to accelerating access to high quality&comma; low cost energy for the&NewLine;continent’s people&period; Critical network connections have been approved by the&NewLine;Bank’s Board&colon; Mali-Guinea&comma; Nigeria-Niger-Benin-Burkina Faso and Chad-Cameroon&period;<br>&NewLine;<br>&NewLine;The &OpenCurlyDoubleQuote;Desert to Power” initiative spans 11 countries&colon; Burkina Faso&comma; Eritrea&comma;&NewLine;Ethiopia&comma; Mali&comma; Mauritania&comma; Niger&comma; Nigeria&comma; Sudan&comma; Djibouti&comma; Senegal and Chad&period;&NewLine;It will have a significant impact on the standard of living of 250 million&NewLine;people&period; The goal is to install 10 gigawatts of solar capacity between now and&NewLine;2030&comma; which will take a big step towards the achievement of the Bank’s High 5&NewLine;goals&comma; since access to energy cuts across all Africa’s development needs&period; It is&NewLine;also in line with the Sustainable Development Goals&comma; the Paris Agreement on&NewLine;climate change and the Africa Renewable Energy Initiative&period;&nbsp&semi;<br>&NewLine;<br>&NewLine;The G5 Sahel is a strategic framework for regional cooperation created in 2014&period;&NewLine;It includes Burkina Faso&comma; Mali&comma; Mauritania&comma; Niger and Chad&period; The G5 Sahel&NewLine;countries are convinced of the interdependence between security and&NewLine;development&comma; particularly in the service sector-energy&comma; transport&comma;&NewLine;telecommunications&comma; and hydraulics&period;<&sol;p>&NewLine;

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