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France to Invest 2 Billion Euros in Africa Renewables
President Hollande Announces Commitment at COP21
France will invest a total of 2 billion euros in renewable energy in Africa in 2016-20, a 50% increase in comparison with the last five years.
French President François Hollande made the announcement alongside UN Secretary-General Ban Ki-moon at the Défi climatique, solutions africaines (Climate Challenge, African Solutions) summit on Tuesday at the COP 21 climate change conference in Paris.
Programs will encourage the use of solar energy, wind power, hydroelectricity or geothermal energy, depending on the potential of each country.
Projects financed by France will be able to register as part of the initiative on renewable energy led by the African Union.
The summit gathered 12 African heads of state, the President of the Commission of the African Union and representatives of several governments as well as international institutions such as the World Bank and the African Development Bank.
Find out more in the press release (in French) on the French Presidency’s site.
Photo credit: COP 21 (Flickr)