The World Bank has pledged $8.2 billion to strengthen Africa’s power sector as part of the ambitious Mission 300 initiative, which aims to connect 300 million people in Sub-Saharan Africa to electricity by 2030.
This funding forms a significant portion of the World Bank Group’s broader plan to nearly double its energy investments in Africa, with up to $30 billion targeted for the energy sector by 2030.
The commitment is expected to help address the region’s massive electricity deficit, where hundreds of millions particularly in rural areas still lack reliable power, hindering economic growth, education, healthcare, and business development.
Mission 300, a joint effort led by the World Bank and the African Development Bank (AfDB), seeks to provide electricity access to more than half of the current unelectrified population in Sub-Saharan Africa.
It combines grid extensions, mini-grids, off-grid solar solutions, and sector reforms to ensure not just connections but also affordable and reliable supply.
The initiative has already attracted additional co-financing and pledges from development partners.
The $8.2 billion commitment is part of ongoing and new projects focused on generation, transmission, distribution, and clean energy access.
It builds on existing programs such as the Accelerating Sustainable and Clean Energy Access Transformation (ASCENT) and efforts to scale up distributed renewable energy.
This move comes at a critical time as Africa’s population grows rapidly and energy demand rises. Reliable electricity is seen as essential for industrialisation, job creation, and achieving broader development goals across the continent.
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