Senegal is expected to reaffirm its commitment to a $2.7 billion green energy initiative during the COP29 conference in Azerbaijan. This ambitious plan, part of the Just Energy Transition Partnership and backed by major nations, is intended to help the West African country reduce its dependence on fossil fuels. The program, which was initiated under former President Macky Sall in June 2023, faced uncertainty after his successor, Bassirou Diomaye Faye, took office earlier this year. However, Remy Rioux, CEO of France’s state development bank, recently indicated that a renewed commitment is on the horizon and could be formalized through an investment plan. If finalized, the five-year plan would fund Senegal’s shift from fossil fuels, joining similar agreements in South Africa, Indonesia, and Vietnam. Such partnerships provide critical financing for developing countries to pursue sustainable energy, reflecting a global trend toward reducing fossil fuel reliance.
SOURCE: BUSINESS INSIDER