June 27

Senegal Secures $2.74 Billion Investment Plan From G8 Member Countries

By Chinedu Okafor

Senegal has agreed to an investment pact worth 2.5 billion euros ($2.74 billion) with a group of advanced economies in order to expand its renewable energy industry and quicken the country’s shift to a low-carbon economy.

The agreement is a part of the Senegal Just Energy Transition Partnership (JETP), which includes France, Germany, the European Union, the United Kingdom, and Canada. It was revealed on Thursday at the Summit for a New Global Financial Pact in Paris.

Photo courtesy of Karsten Würth.

Source: Business Insider Africa (link opens in a new window)

decarbonization, renewable energy