Funding for Energy Initiatives in Africa: U.S.-Africa Clean Energy Finance Initiative

by Alison Kibe

The U.S.-Africa Clean Energy Finance (ACEF) initiative launched at the UN Conference on Sustainable Development in 2012. As of August 2014, the U.S. had pledged $30 million to fund ACEF. The United States Trade and Development Agency’s (USTDA) January 2015 press release announced the two entities in charge of funding AFEC, the Overseas Private Investment Corporation (OPIC) and USTDA, have both obtained initial funds for AFEC projects. Both organizations are involved with connecting private American businesses to international development projects. The goal of ACEF is to promote privately financed clean energy projects with the hope that ACEF acts as a catalyst for economic development and promotes U.S. foreign policy goals in Africa. Continue reading