The African Development Bank (AfDB) has resolved to partner with KfW Development Bank to accelerate implementation of recommendations contained in the 2018 Electricity Regulators Index (ERI) report for Côte d’Ivoire’s energy sector.
The statement released by AfDB indicated that the partnership arrangement between both institutions was announced during a technical workshop hosted by the bank in Abidjan on Wednesday, 13 March 2019.
KfW is a German state-owned development bank.
The statement noted that the workshop brought together key stakeholders in Côte d’Ivoire’s energy sector to review institutional and regulatory developments and assess implementation of recommendations in the inaugural 2018 ERI report.
The statement quoted Wale Shonibare, Director of Energy Financial Solutions, Policy and Regulations in AfDB as saying that the developing robust regulatory frameworks was required to ensure an enabling environment for investments in the electricity sector and to pave the path to universal access to energy in Africa.
“Launched in June 2018 during the Africa Energy Forum (AEF) in Mauritius, the ERI is a diagnostic tool that highlights key areas in regulatory design and practice in Africa’s energy sector.
“The index provides a simple but powerful roadmap for policy makers and regulators to take actions to improve their regulatory frameworks and the attractiveness of the sector,” he said.
Shonibare explained that the 2018 Electricity Regulatory Index identified 13 key regulatory gaps across the 15 ERI participating countries, including Côte d’Ivoire.
According to him, the report recommended specific interventions to address the gaps which will be done through tailored technical assistance programs in participating countries.
The AfDB’s statement also quoted Andreas Fikre-Mariam, Regional Director at KfW’s Abidjan office as saying her bank was mobilising private investment in Côte d’Ivoire’s renewable energy sector and deepening cooperation between Germany and the Government of Côte d’Ivoire, in the spirit of the G20 Compact for Africa.
“There are many projects underway that we are financing, including the Boundiali in Bouake, in collaboration with the AfDB.
“There is also a 10 million Euro grant from Germany to Côte d’Ivoire to promote the energy sector through sector reforms. This is to help achieve a major impact,” Fikre-Mariam explained.