Afdb to invest 200m in power sector

The African Development Bank (AfDB) has announced plans to invest $200 million in the power sector in Africa. This investment is part of the bank's efforts to support the development of the continent's energy sector and increase access to electricity for millions of people.

The investment will be used to finance the construction of new power generation and transmission infrastructure, as well as the rehabilitation of existing facilities. The bank will also provide technical assistance and capacity building to help African countries improve the efficiency and reliability of their power systems.

The AfDB's investment in the power sector is part of its broader strategy to promote economic development and reduce poverty in Africa. The bank believes that access to electricity is a key driver of economic growth and development, and that it can help to create jobs, stimulate economic activity, and improve living standards.

The AfDB's investment in the power sector is also part of its efforts to support the implementation of the African Union's Agenda 2063, which aims to create a more integrated and prosperous Africa by 2063. The bank believes that the development of the power sector is critical to achieving this goal, and that it can help to create a more competitive and sustainable economy in Africa.

Overall, the AfDB's investment in the power sector is an important step towards increasing access to electricity in Africa and promoting economic development on the continent.