Christian Aid
Abstract: The African Development Bank (AfDB) is a regional development finance institution that was established in 1963. The AfDB Group comprises three entities: the AfDB,the African Development Fund and the Nigeria Trust Fund. The latter two are concessional windows for the bank which came into effect in 1972 and 1976 respectively. The bank began funding projects in 1966,and between 1967 and 2008 approved projects worth $4.5 billion to the energy sector. Energy is central to Africa?s future development and the AfDB indicated that it is spearheading efforts to unlock Africa?s vast renewable energy potential. In 2019,the bank?s President pronounced that it no longer funds coal and has increased funding of renewable energy projects since the New Deal on Energy for Africa was signed and launched in 2016. Its aim is to achieve universal energy access,with priority given to low-carbon technologies which ?harness the abundant,renewable energy resources of the continent by the year 2025.