Adedokun Waliyu 
Nigeria and other African countries are poised to gain from €5 million in Sustainable Energy Funds from Italy through the Sustainable Energy Fund for Africa (SEFA) Special Fund.
The Deputy Minister of Environment and Energy Security for Italy, Vannia Gava, announced a new contribution during a side event at the 2023 United Nations Climate Change Conference, COP28, in Dubai, United Arab Emirates.
She emphasized Italy’s continued dedication, stating that the commitment underscores the country’s ongoing efforts to foster sustainable energy development in Africa.
Earlier, the Director of the Renewable Energy and Energy Efficiency Department at the African Development Bank lauded Italy’s continued dedication to fostering sustainable energy in the country.
He also mentioned that Italy’s contribution aligns with the broader goals of COP28, particularly the objective of tripling the deployment of renewable energy.
Sustainable Energy Fund for Africa, also known as SEFA, is a multi-donor Special Fund, offering catalytic finance to stimulate private sector investments in renewable energy and energy efficiency.
It provides technical assistance and concessional finance tools to eliminate market barriers, enhance project pipelines, and optimize the risk-return profile of specific investments.
The Fund’s overarching goal Is to contribute to universal access to affordable, reliable, sustainable, and modern energy services for all in Africa, in line with the New Deal on Energy for Africa and Sustainable Development Goal 7, “Ensure access to affordable, reliable, sustainable and modern energy for all”.
