Some of the world's most prominent climate organisations - the Rockefeller Foundation, Global Alliance for People and Planet (GEAPP) and Sustainable Energy for All - on Friday announced the formation of a technical assistance facility to examine projects and help secure funding for those that qualify for the programme known as Mission 300 . The aim is to ultimately raise $90-billion, or more, from a range of sources.
"Every project starts with a single payment," Rajiv Shah, president of the Rockefeller Foundation, said in a response to questions. "The technical assistance facility is designed to help the World Bank and African Development Bank jump-start their ambitious electrification plans throughout sub-Saharan Africa."
The plan, if successful, would bring power to half of the 600 million Africans who don't have access to electricity. The continent accounts for about three-quarters of those without power globally with South Sudan, Burundi and Chad having electrification rates of less than 12% of their populations. That limits productivity and hampers economic growth in some of the poorest nations on Earth.
"We've seen, frankly, stagnation" in getting electricity to more Africans over the last 15 years, said Ashvin Dayal, head of the Rockefeller Foundation's power and climate programme. "This is for us the defining climate and development challenge for the continent over the next 20 years."
"We need to make sure that we create bankable projects that deliver impact and commercially sound returns," Woochong Um, GEAPP's CEO, said in an interview. "We will launch a massive fundraising and advocacy effort to elevate action and mobilise the resources required."
