The Transfer Agreement between the European Union and the Government of the United States of America to supplement the funding of the Electrification Financing Initiative – ElectriFI will be signed at the European Development Days 2016 (on 15 June at 12:00).
ElectriFI, is an innovative mechanism to unlock, accelerate and leverage investments increasing access to affordable, reliable, sustainable and modern energy in developing countries. ElectriFI was launched by the European Commissioner for International Cooperation and Development, Neven Mimica at COP21 in Paris.
The first invitation for applications under ElectriFI has already generated 290 projects for a total investment amount of €8,5 billion for installing 3,7 GW new renewable energy generation capacity in 55 countries. The participation of the private sector and the financiers to this first invitation under ElectriFI proves that this initiative can be a game changer in responding to the challenge of universal access to energy.
ElectriFI is open to all partners committed to the access agenda as a platform for gathering and leveraging global efforts and resources. With the signature of this Transfer Agreement the US Government, through the US Agency for International Development (USAID) Power Africa initiative, contributes to ElectriFI an amount of $10 million. This contribution will be targeted at sub-Saharan Africa projects and will make a real difference in common efforts to boost sustainable business models increasing access to energy in that region.
For more information:
More information on ElectriFI can be found on www.electrifi.org
Elgars Ozolins, Press and media officer. T. +32 2 299 4406