European Union (EU) and the US Power Africa Initiative on July 14, 2015, signed a Memorandum of Understanding (MoU) to back the endeavors to advance power generation and access to electricity in Sub-Saharan Africa, according to a press statement of the US Embassy in Ethiopia.

US Secretary of Treasury Jacob J. Lew and EU International Cooperation and Development Commissioner Neven Mimica signed the MoU at Hilton Hotel.

The statement quoted Commissioner Mimica saying "Today's agreement is a clear sign that the EU and the US are ready to pool their efforts and resources in helping partner countries in Africa to fight energy poverty. Increased access to sustainable energy sources will be essential if we really want to empower those most in need."

EU and US both announced their intent at the EU-US Development Dialogue in 2014 to devise a “partnership framework” to support their cooperation around energy in Africa.

The EU from now until 2020 assigned 2.5 billion Euros in grants to back sustainable energy in Sub-Saharan Africa. With this contribution, EU expects to bring electricity to more than 100 million people in Sub-Saharan Africa by 2020.

Power Africa, announced by President Obama in June of 2013, is a unique private-sector focused initiative with over 100 private sector companies, U.S. Government agencies, the World Bank, the African Development Bank, the Government of Sweden, the United Nations’ Sustainable Energy for All initiative, and the African Union’s New Partnership for Africa’s Development (NEPAD).

Source: Ethiopian News Agency