Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » AfDB and Srep promotes renewable energy in Mali

    AfDB and Srep promotes renewable energy in Mali

    October 24, 2014
    Share
    Facebook Twitter LinkedIn WhatsApp

    24 October 2014, Abidjan – With support from the African Development Bank (AfDB), Mali received US $1.5 million from the Scaling-Up Renewable Energy Programme in Low Income Countries (SREP) of the Climate Investment Funds (CIF). The SREP financing will benefit the Project for Scaling-up Renewable Energy in Mali (PAPERM).

    PAPERM aims to contribute to (i) improving the policy, legal, regulatory and institutional framework for scaling-up renewable energy investments; (ii) strengthening the capacities of stakeholders and ensuring knowledge management, communication and advocacy to facilitate the development of renewable energy; and (iii) improving the sub-sector’s monitoring and evaluation system. The project covers the entire country and will take place over three years.

    AfDBFollowing the grant approval, Alex Rugamba, Director of the AfDB’s Energy, Environment and Climate Change Department, said, “The Bank actively participated in the preparation of the SREP investment plan for Mali and will support the implementation of three of the four projects that it contains, including the Project for Scaling-up Renewable Energy in Mali. Through PAPERM, the Bank seeks to support Mali in transforming its energy sector and improving the environment for future investments in renewable energy.”

    PAPERM has an estimated budget of US $2.602 million. The project also benefits from a US $530,000 grant from the Sustainable Energy Fund for Africa. With co-financing from SEFA and SREP, this project demonstrates that the AfDB can mobilize the various climate funds it manages in order to create greater synergies between these different funding instruments. Beneficiaries of the project include the National Directorate of Energy and other agencies in Mali’s energy sector, as well as private and public investors who will benefit from improved strategic, legal and regulatory frameworks.

    Mali has great renewable energy potential, which remains largely untapped to date. The country’s Strategic Framework for Growth and Poverty Reduction 2012-2017, however, plans “to make renewable energy the main energy source in the country.” PAPERM is in line with the objectives of the National Renewable Energy Development Strategy, which are to (i) promote the widespread use of renewable energy technologies and equipment; (ii) develop the biofuel sector; (iii) create optimal conditions for the sustainability of renewable energy services; and (iv) identify sustainable and adapted financing mechanisms.
    *African Development Bank – press release

    Related News

    FG, States, LGCs share N1.659 revenue in May 2025

    FAAC disburses N1.659trn for May as VAT, CIT revenues surge

    OPEC Fund commits $1bn in new financing for developing nations

    E-book
    Resilience Exhibition

    Latest News

    FG, States, LGCs share N1.659 revenue in May 2025

    June 22, 2025

    Military efforts slash crude oil theft, as Minister hails Armed Forces

    June 22, 2025

    Nigerian Navy cracks down on oil theft, arrests 76 vessels in two years

    June 22, 2025

    Rivers, Bayelsa left out as FG delivers life jackets to Kwara over boat mishaps

    June 22, 2025

    Nigeria commits $200m to health, eyes BRICS partnerships

    June 22, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.