World Bank Sets Africa Terms to Win $40 Billion in Power Finance
- World Bank, AfDB want commitments to competitive tenders
- Thirteen nations to present plans at key conference this month
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The World Bank and African Development Bank laid out the terms African nations will need to meet to win $40 billion in finance to tackle the continent’s electricity crisis.
The two multilateral lenders are backing a program called Mission 300 that aims to bring electricity to 300 million Africans by 2030 with a pledge of $30 billion in finance, on top of which they expect $10 billion from private institutions.