COP29 President Mukhtar Babayev Attends Mission 300 Energy Summit in Tanzania
Najmul Islam Sojib
COP29 President Mukhtar Babayev took part in the Mission 300 Africa Energy Summit in Tanzania, a historic gathering aimed at driving forward the ambitious goal of providing electricity access to 300 million people across the continent by 2030.
Over two days, governments, private sector leaders, and development partners joined forces with major multilateral development banks, including the World Bank, African Development Bank, Islamic Development Bank, Asian Infrastructure Investment Bank, and the OPEC Fund. Collectively, they pledged more than $50 billion to accelerate the Mission 300 project, underscoring a shared commitment to advancing Africa’s energy transformation.
In his interventions, Mr. Babayev emphasized the crucial role of commitments made under the COP29 process, particularly the Baku Finance Goal, which seeks to mobilize $1.3 trillion in climate finance, and the Global Energy Storage and Grids Pledge, which aims to increase global energy storage capacity sixfold by 2030. He highlighted how these initiatives could directly support Africa’s push for clean, reliable, and affordable energy access.
During the summit, the COP29 President spoke at a high-level panel on the role of international partners in Africa’s energy transition, stressing the importance of aligning global financial commitments with the continent’s rising clean energy needs. He also held a series of bilateral meetings with senior leaders, including UN Deputy Secretary-General Amina Mohammed, Asian Infrastructure Investment Bank President Jin Liqun, Islamic Development Bank President Dr. Muhammad Al Jasser, and energy industry leaders. Discussions focused on strengthening collaboration and ensuring that finance and technology reach the communities that need them most.
The World Bank committed $22 billion, while the African Development Bank pledged $18.2 billion through concessional loans. The Islamic Development Bank made its largest contribution yet, with $2.65 billion earmarked directly for Mission 300, while the AIIB and the OPEC Fund each pledged $1 billion. These announcements marked one of the most significant financial mobilizations for energy access in Africa to date.
The COP29 Presidency underscored that the active involvement of African governments was pivotal to the success of the Baku negotiations. By engaging in Tanzania, Azerbaijan reaffirmed its commitment to elevating Africa’s priorities within the global climate agenda and ensuring that the momentum achieved at COP29 translates into tangible progress on the ground.
