Zambia says the energy sector is one of the main investment areas in the country.
Speaking at a breakfast discussion organised by the Permanent Mission of Zambia and Sweden to the United Nations in conjunction with Sustainable Energy for All (SE4ALL), at UN HQ in New York, Zambia UN Mission Chargé d’Affaires Christine Kalamwina said Zambia seeks to increase the share of renewable energy and promote the productive use of energy.
“Energy has been identified as one of the main investment areas in the current development plan in Zambia with the objective of ensuring availability of adequate and reliable energy at lowest cost while taking measures to protect the environment,” Ms. Kalamwina said. “Zambia aims to increase its rural population’s access to electricity through a wide range of solutions in which renewable energy plays a critical role.”
According to the statement released to the media by Mr Chibaula Silwamba, Zambia’s First Secretary for Press and Public Relations at the UN ,the Chargé d’Affaires commended Sweden for assisting Zambia through the “Beyond the Grid Fund for Zambia”, which will operate from 2016 to 2018, with funding levels of 20 million Euros.
The Fund is aimed at promoting investment ventures in sustainable energy beyond the power grid, especially for rural and remote areas where large population of people, and the poor reside.
“Strengthened support towards implementation of the 2030 Agenda, including the actualization of commitments that are in the Addis Ababa Action Agenda on Financing for Development, requires a revitalized partnership and strengthened development cooperation,” said Ms. Kalamwina.
Swedish Minister for International Development Cooperation Isabella Lovin commended the Zambian Government for its commitment to improve the well being of the people and willingness to partner with Sweden to implement the energy project.
The access to affordable and renewable energy is critical to the achievement of the 2030 Agenda. The achievement of Sustainable Development Goal (SDG7), focusing on Affordable and clean energy, is also closely linked to many of the other targets of the 2030 Agenda and to the realization of the Paris Agreement on climate change. To achieve the goal of SDG7, a substantial scaling up of investment in sustainable energy is necessary. Sustainable Energy for All (SE4All) has estimated that annual investments would have to triple and reach one trillion USD. This represents significant business opportunities in the future, but also means overcoming a range of challenges.