During the Annual Meetings of the World Bank Group and International Monetary Fund on October 14, 2022, Power Africa and the EU signed a new MOU superseding their original MOU agreement signed in 2015. By highlighting increased cooperation between the Partnership for Global Infrastructure Investment (PGII) and the EU’s Global Gateway, this MOU seeks to accelerate a just and green energy transition, promote relevant market and regulatory reforms to ensure robust decarbonisation efforts, reduce energy poverty, and increase access to affordable, reliable and modern energy for all in Sub-Saharan Africa. In this new MOU, the EU included an overall financial commitment of $3 billion as part of the EU’s development assistance program for energy in Africa.

Tags
Power Africa EU MOU 2022