European Investment Bank supports Burkinabe Solar

The European Investment Bank (EIB) has decided to provide economic support to Burkina Faso in its fight against climate change. With a 38.5 million euro grant, the EIB wants to support the development of solar energy in the country. In reality, the country is already plagued by high energy insecurity, political instability and repeated health crises.

European Investment Bank supports Burkina Faso against energy insecurity

38.5 million in aid for Sonabel

With this 38.5 million euro grant, the European Investment Bank wants to develop renewable energy in Burkina Faso. The goal is for the country to move directly towards a cleaner model. In this sense, the country can rely on solar energy thanks to the power plant of Sonabel, the national electricity company. With the help ofISB, its production capacity will increase from 37 MW to 50 MW.

This sum will allow to supply all Burkinabè with electricity (only 20% in 2020). Many people are not attached to the entire network. Those who are, suffer many cuts, even in the big cities.

Moreover, the country is very dependent on the outside world for its electricity. It was already importing at least 30% from Ghana and Ivory Coast in 2017. The adopted program of 70.5 million euros becomes more than urgent in view of the situation.

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Supporting in the face of climate challenges

In addition to the energy challenges, Burkina Faso must also deal with climatic hazards. Africa is the continent most affected by global warming, especially in the Sahel. In September 2020, floods ravaged more than 24,000 homes and the capital Ouagadougou was particularly hard hit.

ISB provides expertise to protect homes from flooding by building drainage channels. These disastrous events have pointed out the shortcomings of urban planning and much progress remains to be made in this area.

Support for health and safety issues

In Burkina Faso, people are still vulnerable to infectious diseases such as malaria and tuberculosis. The Covid-19 crisis further increases inequalities, with difficult access to vaccines despite the COVAX program.

The situation is even more fragile because of the geopolitical instability of the country. The latter is located in the “three borders” zone, the epicenter of violence in the Sahel. It has thus been affected by numerous terrorist attacks for several years.

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ISB plays an important role against climate change

“Accelerating climate action in the Sahel region

In the long term, ISB aspires to play an important role in Africa. ISB Vice President Ambroise Fayolle said, “We must support sustainable development and accelerate climate action in the Sahel region.

In this respect, the African Union’s Great Green Wall project is part of this vision. 100 million hectares of Sahelian land must be restored, with more than 14.3 billion euros invested by various actors, including ISB.

ISB is also supported by theFrench Development Agency (AFD) and the European Union (EU). The EU ambassador to Burkina Faso, Wolfram Vetter, reiterated its “willingness to strengthen cooperation with its African partners.

24 billion euros in the climate in 2020

In 2020, ISB invested more than 24 billion euros in projects to combat climate change. It is therefore one of the world’s leading donors in this area.

It is also committed to helping Europe achieve carbon neutrality by 2050. In this sense, it strongly monitors the implementation of the plan decided at the Paris Conference in 2015.

Through its investments, ISB plays a significant role in helping African countries make the energy transition. The stakes are not only climatic, they are also political, sanitary and security issues. The future of the region is at stake.

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