AfDB Commits $2B for Clean Cooking Access in Africa

Multilateral development financing institution the African Development Bank (AfDB) is providing $2 billion towards the adoption of clean cooking solutions in Africa over the next ten years. Aimed at achieving universal access to clean cooking by 2030, the pledge equates to $200 million in annual investment by the institution.

Promoting the adoption of solutions such as Liquefied Petroleum Gas, gas-to-power and biogas, the funding aims to reduce the reliance on carbon-intensive cooking fuels including charcoal and biomass. In doing so, the institution is committed to reducing greenhouse gas emissions across the industry while improving health and equality in clean cooking.

Delivering an address in Paris this week, AfDB President Akinwumi Adesina stated that the institution will “now allocate 20% of all its financing for energy in Africa to clean cooking. We will work with governments to develop and roll out clean cooking solutions at scale, along with supportive policy, standards, safety and regulations, as well as fiscal incentives to improve access and affordability.”