Financing by EU Institutions and Member States
The international community must contribute significantly alongside Africa if the continent is to achieve SDG7 targets by 2030. To this end, EU Institutions and EU Member States have established themselves as world leaders in financing clean, sustainable energy and supporting universal access to electricity for all Africans. Furthermore, they are uniquely placed to continue playing a leading role in meeting the SDG7 agenda, by building on their long-established partnership frameworks to mobilise know-how and resources.
This action has been contributing to efforts to reach SDG7 through energy partnerships in Africa. This collaboration will very likely continue with increased focus with the External Dimension of the European Green Deal strategy to turn climate and environmental challenges into opportunities, while making the transition just and inclusive for all, and under the European Commission (EC)’s Comprehensive Strategy with Africa.
Aggregated data shows that some EUR 11.1 billion (46%) of the approximately EUR 24.4 billion in Official Development Assistance (ODA) financial support committed to SDG7-compliant projects in Africa between 2014 and 2019 by non-African donors has been committed by EU Institutions and Member States governments in the form of grants, concessionary loans, project finance loans and equity.