Over the next two years, the European Investment Bank (EIB) has committed to funding renewable energy projects in Africa with more than 2 billion euros ($2.3 billion).
According to a statement from the bank, the projects will involve the expansion and modernization of transmission and distribution infrastructure in addition to hydroelectric, solar, and wind power plants.
The European Commission will provide assurances to support them.
Later on Monday, during a summit between the European Union and the African Union in Luanda, the capital of Angola, EIB Vice President Ambroise Fayolle is expected to elaborate on the commitment.
