The bank said 600 million Africans lack access to electricity, creating significant barriers to health care, education, productivity, digital inclusivity, and ultimately job creation
The bank, in a statement on Wednesday, said it will work to connect 250 million people to electricity through distributed renewable energy systems or the distribution grid while the Africa n Development Bank Group will support an additional 50 million people.
According to the statement, the partnership is a demonstration of the determination of the World Bank Group and the African Development Bank Group to be bolder, bigger and better at tackling one of the most pressing challenges in Africa. "For the World Bank Group to connect 250 million people, $30 billion of public sector investment will be needed, of which IDA, the World Bank's concessional arm for low-income countries, will be critical," the statement said.
Beyond that, the bank said there would be substantial opportunities for private investments in grid-connected renewable energy needed to power economies for growth.
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