Renewable energies and energy efficiency

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As part of the G20 Africa Partnership, Germany and Ghana are striving for closer cooperation in the field of promoting renewable energies (RE) and energy efficiency (EnEff), which should contribute to achieving the goals set in the Compact with Africa (CwA) (promoting private investment, renewable energies, employment and vocational training). The CwA is an initiative launched under the German G20 Presidency in 2017 with selected African countries, with the aim of improving the framework conditions for private investment in these countries. The rationale behind this is that state resources and public development funds alone will not be sufficient to offer employment prospects to Africa's rapidly growing young population and thus alleviate the pressure to migrate. The German government is supporting the G20 CwA initiative with so-called reform partnerships (or investment partnerships) with substantial funding commitments at the bilateral level. The reform champions selected so far are Ghana, Côte d'Ivoire and Tunisia. The reform partnerships are also part of the BMZ's Marshall Plan with Africa, which aims to reorient cooperation with Africa in order to improve the framework conditions for public and private investment on the continent. We estimate the total cost of the FC program at EUR 135 million (FC loan) and a EUR 10 million grant for the accompanying measure. FC loan funds of EUR 85 million and FC grant funds of EUR 10 million are available to finance the first phase of the reform partnership. The recipient of the entire FC loan and the accompanying measure (FC grant) is the Republic of Ghana, represented by the Ministry of Finance.