{"id":78885,"date":"2024-10-17T15:02:00","date_gmt":"2024-10-17T15:02:00","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/world-bank-working-to-address-lack-of-investment-in-africas-renewable-energy"},"modified":"2024-10-17T15:02:00","modified_gmt":"2024-10-17T15:02:00","slug":"world-bank-working-to-address-lack-of-investment-in-africas-renewable-energy","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/world-bank-working-to-address-lack-of-investment-in-africas-renewable-energy","title":{"rendered":"World Bank working to address lack of investment in Africa\u2019s renewable energy"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>The World Bank has unified efforts to address challenges hindering the growth of distributed renewable energy in Africa.<\/b><\/p>\n

This is as it works to provide guarantees on the continent.<\/p>\n

The guarantees will be used to address the lack of funding, due to Africa being considered high risk in terms of investment.<\/p>\n

According to Nkem Onwuamaegbu, the Africa regional head for the Multilateral Investment Guarantee Agency, an arm of the World Bank, the bank is working to identify and address the challenges to better attract investment in the sector.<\/p>\n

\u201cWe\u2019re looking at how we can use guarantees and other tools to attract private sector investment in renewable energy projects. The entire World Bank Group is united in this effort,\u201d says Onwuamaegbu.<\/p>\n

Guarantees are designed to promote or regulate the inflow of foreign investments, provide protection and safeguard investments against political risk.<\/p>\n

During the conference, one of the issues raised was the potential for technical assistance to yield positive outcomes.<\/p>\n

\u201cTechnical assistance needs to occur to essentially enable this industry to scale up in a way that is sustainable,\u201d says Onwuamaegbu.<\/p>\n

The bank is conducting evaluations and focusing on tangible results, she adds.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. The World Bank has unified efforts to address challenges hindering the growth of distributed renewable energy in Africa. This is as it works to provide guarantees on the continent. The guarantees will be used to address the lack of funding, due to Africa being considered high risk in terms of investment. According […]<\/p>\n","protected":false},"author":84,"featured_media":78884,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-78885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nWorld Bank working to address lack of investment in Africa\u2019s renewable energy - Namibia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/world-bank-working-to-address-lack-of-investment-in-africas-renewable-energy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank working to address lack of investment in Africa\u2019s renewable energy\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Namibia. The World Bank has unified efforts to address challenges hindering the growth of distributed renewable energy in Africa. This is as it works to provide guarantees on the continent. The guarantees will be used to address the lack of funding, due to Africa being considered high risk in terms of investment. 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