Asian Development Bank President hails AfDB’s work on clean energy financing

November 28, 2013 4:48 PM

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Asian Development Bank President hails AfDB’s work on clean energy financing

The African Development Bank’s (AfDB) work in clean energy financing received some welcome recognition last week from Asian Development Bank President (ADB) Takehiko Nakao. The ADB President commended the African Development Bank for its commitment to promoting clean energy investments during the 6th annual meeting of the Asia Solar Energy Forum (ASEF) on Solar Energy Technology Trends and Opportunities held in Tashkent, Uzbekistan from November 20-23.

Specifically, Nakao recognized the African Development Bank for its investment in the solar energy field. He also emphasized that Africa has better solar energy resources than Asia and that the continent must exploit those resources prudently to fuel its development. Nakao went on to stress the need for collaboration among development finance institutions (DFIs), highlighting a seminar later in the conference where the African Development Bank would share its expertise on financing solar projects. ADB President emphasized that Africa had solar energy resources that were comparable to the best in Asia.

Youssef Arfaoui, Chief Renewable Energy Specialist, Energy, Environment and Climate Change Department, represented the African Development Bank at the conference. During a session entitled “Solar Development Opportunities in Other Regions and Lessons Learned”, Arfaoui gave a presentation on “Powering the Future on Africa’s Terms – Supporting the Transition Towards Clean Energy”.

“Investing in renewable is important to ensure the energy mix,” said Arfaoui. The African Development Bank played an important role in the forum, which has further reinforced its collaboration with the ADB.

Also during the conference, the First Deputy Prime Minister of Uzbekistan, Rustam S. Azimov, extended warm greetings to the African Development Bank, also noting the need for South-South collaboration with African countries. Given Uzbekistan’s enormous potential of solar energy, the country is poised to developing this energy in the country and in Central Asia.

Source: worldstagegroup.com

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