Investment platform Africa50, the African Development Bank (AfDB), the OPEC Fund for International Development and the government of Madagascar have signed a Letter of Intent (LOI) to increase bioethanol production and enhance access to clean cooking fuels.
The initiative aims to develop and finance bioethanol production and distribution infrastructure in Madagascar, particularly in remote areas, while reducing reliance on high-polluting fuels and addressing climate and public health issues for women and children.
Africa50 will lead the development of the bioethanol infrastructure, while the AfDB and OPEC Fund will provide technical and financial support to Madagascar’s government.
The LOI was signed by Olivier Jean Baptiste, Madagascar’s Minister of Energy and Hydrocarbons; Khaled Al-Zayer, OPEC Fund Public Sector Director for East and Southern Africa; Alain Ebobissé, Africa50 CEO; and Kevin Kariuki, AfDB Vice President for Power, Energy, Climate and Green Growth.
“The widespread use of harmful fuels in Madagascar severely impacts health, gender and climate. We are proud to be part of this partnership, which will increase access to clean cooking fuels and help safeguard the health and well-being of our citizens,” said Minister Baptiste.
