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Tuesday 15 June 2021
HomeNewsAsian Development Bank President hails AfDB’s work on clean energy financing

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

Asian Development Bank President (ADB) Takehiko Nakao has hailed
the African Development Bank (AfDB) for its work in clean energy financing.

According to an AfDB statement, obtained by PANA here Thursday, 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 in Tashkent, Uzbekistan, 20-23 Nov.

Specifically, Nakao commended the AfDB for its investment in the solar energy field, saying Africa has better solar energy resources than Asia and that the continent must exploit those resources prudently to fuel its development.

Nakao stressed the need for collaboration among development finance institutions (DFIs).

Youssef Arfaoui, Chief Renewable Energy Specialist, Energy, Environment and Climate Change Department, represented the AfDB at the conference.

During a session on “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, adding that the AfDB 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 AfDB and stressed the need for South-South collaboration.

The ASEF is an independent, non-partisan, and non-political knowledge society facilitating solar energy technology transfer across Asia and the Pacific.

ADB, together with its partners – the International Energy Agency (IEA), Renewable Energy and Energy Efficiency Partnership (REEP) and United Nations Industrial Organization (UNIDO) – introduced the ASEF as part of a broader initiative to accelerate the development of solar energy in Asia and the Pacific. 

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