- When: 22 May 2022, 1:00 PM (Riyadh Time) | 6:00AM (EST)
- How to join: To register for this event, please click here
On 22 May 2022, the Islamic Development Bank (IsDB) will be hosting a side event on “Resilient Energy Development through South-South Cooperation” during the 2022 Annual Meeting of the Islamic Development Bank Group. The event is co-organized with the Regional Center for Renewable Energy and Energy Efficiency (RCREEE).
Background
Access to affordable sustainable energy is a pre-requisite for reducing poverty, accessing health services, mitigating climate change and catalyzing economic recovery. Sustainable renewable energy constitutes one of the key elements that contributes to (i) enhancing resilience due to the availability of affordable sources of energy, and (ii) helping the electricity utilities in satisfying the increasing demand. A wealth of knowledge and experience exists in our member countries in this domain, and they are ready to share it through South-South/Regional Cooperation approach.
Building on its previous experiences under Reverse Linkage, the Islamic Development Bank through a regional cooperation approach, is considering scaling up its intervention in the renewable energy by developing a dedicated renewable energy program to leverage financing from the private sector and other institutional and technical partners.
Objectives
- Shed the light on the challenges and opportunities for developing resilient renewable energy infrastructure in sub-Saharan African countries.
- Highlight how resilient, sustainable and affordable clean energy will play a critical role in the economic recovery of Member Countries in the post-COVID-19 era.
- Emphasize on the role of the private sector to ensure resilient energy infrastructure and different models to partner with the public sector (BOOT, O&M, BOO etc.).
- Showcase the innovative approach of the IsDB in developing and promoting affordable renewable energy through Regional Cooperation and Reverse Linkage in line with the 2030 Agenda for sustainable development of our member countries.
- Discuss and present the concept of the new IsDB program related to renewable energy through South-South Cooperation which is under formulation.