World Bank announces plan to bring power to 300 million in Africa | Global Stage

World Bank Group is bringing power to the people. Literally.

This week, during the bank’s annual Spring Meetings, the group announced a major new initiative to provide electricity to 300 million Africans by 2030. It is estimated that nearly 800 million people globally lack access to power, and the vast majority of them, 600 million, live on the African continent.

GZERO’s Tony Maciulis met with the World Bank’s Director of Infrastructure for West Africa, Franz Drees-Gross, to discuss the project's details.

Over the next six years, the World Bank aims to connect 250 million people using $30 billion of public sector funding largely drawn from its International Development Association. The development finance institution provides low-interest loans and grants to the poorest countries. The group has also partnered with the African Development Bank, which has committed to supporting an additional 50 million people.

The connectivity will come from a combination of sources, some existing and some to be created by the project.

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