Jean-Louis Borloo is looking to raise USD 3 billion from Western sponsors to finance renewable energies projects in Africa. The ex-French minister declared having received the commitment of Western governments to support his project. He did not however give specific details, but hopes to be able to present the project during COP 21.

Once the initial fund is set up, African countries will have to pay a yearly quota to make it viable. Polluting countries will also give their contributions, but in a larger proportion. “We have already met 44 heads of state that joined our cause. European and American partners support the initiative and have promised to also bring their contribution”, Jean-Louis stated to Reuters.

He hopes to mobilise USD 4 billion by 2017 and USD 5 billion by 2018. In September 2014, the ex-minister shared his ambition to create a fund for energy access in Africa in order to become “a champion for Africa in this new era”.