[Emcee]
So, the speakers today are going to be taking us through our Mission 300 targets as well as our targets for energy. So, without further ado, please welcome Jessica. Jessica is a Lead Infra Finance Specialist with MIGA. And please welcome Ashish. Ashish is an Energy Specialist with ESMAP. And I will leave you to it. All the best.
[Jessica Erickson Stiefler]
Good morning, everyone. At the World Bank Group, we see energy as a foundation for jobs, productivity, and growth, because energy creates a pathway for opportunities. Through our current programs, 215 million people worldwide have gained access to new or improved energy connections. These are not just numbers. They are lights turning on in homes for the first time, businesses opening and creating jobs for communities, hospitals delivering care around the clock. This is what makes energy possible, opportunity that translates into work, wages, and dignity.
[Ashish Shrestha]
And yet the challenge remains. Millions of people still live without electricity, and demand for electricity is rising fast. It’s expected to double over the next decade because while access is expanding, population growth continues to outpace progress. Closing this gap will require unprecedented scale and speed. So, the task ahead is clear: deliver energy faster, at scale, and in ways that create opportunity. And that’s exactly what the World Bank Group is working to do.
[Jessica Erickson Stiefler]
Every country operates in a different context and requires different energy solutions. Worldwide, we help countries deliver the energy their people need with the flexibility to choose the energy mix that best fits their ambitions and national context.
[Ashish Shrestha]
Our approach is simple and pragmatic. There is no one-size-fits-all solution. That’s why we support countries in 3 areas.
[Jessica Erickson Stiefler]
First, stronger electricity grids and utilities, because grids and utilities are at the heart of affordable, accessible electricity, and critical to building resilient economies and vibrant communities. We are optimizing electricity systems through digital solutions, expanding cross-border trade, and supporting more competitive power markets.
[Ashish Shrestha]
Second, more supply. The World Bank Group works with countries to identify the most affordable and reliable solutions to generate electricity. In many countries, solar and wind are now the lowest cost path to electrification. In others, natural gas, geothermal, and hydropower play an important role. And as technologies evolve, nuclear is creating new opportunities in some countries.
[Jessica Erickson Stiefler]
Third, lower emissions. We’re helping companies reduce emissions by deploying more energy-efficient systems, retrofitting, repurposing, and retiring coal plants, and supporting carbon capture for industry and power generation. We’re also helping to reduce flaring and methane emission, capturing gas for productive use rather than waste.
[Ashish Shrestha]
Innovation matters. At the same time, solutions must be replicable and scalable. That’s why we’re moving away from one-off projects to programs that can be expanded, adapted, and repeated in other countries and regions. Let us show you what that looks like on the ground in Bhutan, Burundi, and Nigeria.
[Jessica Erickson Stiefler]
In Bhutan, in South Asia, the Dorjilung hydropower project will unlock regional clean energy trade. It will boost clean energy production by 40%, expand exports, and reduce costly seasonal imports. It will create thousands of jobs, stimulate local businesses, and improve livelihoods, especially in the poorer regions, while at the same time upgrading critical infrastructure like roads, and providing access to markets and services. More reliable electricity will also enable businesses to grow, increase their productivity, and attract new investment. A strength of this hydropower project is that its model is replicable. It’s a public-private partnership that mobilizes significant private capital while limiting public debt. This project demonstrates a One World Bank Group approach, combining IBRD, IDA, and IFC into an innovative financing structure that carefully balances risks between public and private stakeholders. This frees up public funds for social spending and other investments for the people of Bhutan. It is a model for future hydropower development in Bhutan, but also other countries around the world.
[Ashish Shrestha]
Let’s now move to Africa to highlight another scalable partnership-driven model that’s leading the way to expand energy access and drive jobs at scale. I’m talking about Mission 300. It aims to connect 300 million people in Africa to electricity by 2030, 250 million from the World Bank Group and another 50 million from the African Development Bank. In Nigeria, the DARES project is changing lives by bringing electricity to households and small businesses that cannot rely on the national grid. The approach is simple: mini-grid and standalone solar companies will either get subsidies or grants once a connection is verified. This helps ensure accountability and affordability. It’s an opportunity to mobilize private finance to support rapid scale-up and ensure that the most hard-to-reach people are not left behind. It also signals strong government support, giving private investors the confidence to expand operations into new markets. In total, it’ll benefit 17.5 million people. So far, more than 3 million people have already gained access, and progress is accelerating. We’re also powering small businesses, digital connectivity, local clinics, schools, and agroprocessing centers. This translates to more and better local jobs.
[Jessica Erickson Stiefler]
So, what do these two examples have in common? Each is designed to scale. Each model can be replicated in different countries and regions. Each is built to expand economic opportunity and create jobs, and each is structured to mobilize private investment.
[Ashish Shrestha]
By 2035, investment in electricity generation, grids, and storage in developing countries must more than double each year, and more than half of this must come from the private sector. But private investment doesn’t always flow where the need is greatest. It flows where risk is lowest. That’s why our role is not just financing. It’s about reducing risk and creating bankable projects for the private sector. We help countries build the right policies and institutions, and we provide guarantees, equity, and expertise to crowd in private capital. We are scaling this approach, bringing together public and private partners, and using blended finance and risk mitigation to make projects and programs more replicable and bankable. Let us show you how this approach makes a difference in Burundi.
[Jessica Erickson Stiefler]
In Burundi, we are helping transform the electricity grid, not just expand it. Through Weza Power, we are supporting the rehabilitation and extension of the national distribution network to reach tens of thousands of households and businesses. What makes Weza Power different is its structure. It is not a traditional public finance project. It is a public-private partnership designed to attract private investment into one of the most challenging markets. And this is where the World Bank Group plays a unique role. We don’t just finance projects, we build markets. We support the government through IDA to strengthen the sector and structure the public-private partnership. Then, IFC helps develop the project and finance the private operator. And finally, MIGA comes in to de-risk key transaction risks to support the bankability. Together, these efforts are expected to deliver new or improved electricity access to 2.4 million people, 1,200 public institutions, and 6,000 businesses in Burundi.
[Ashish Shrestha]
And this is really what Mission 300 is all about: combining knowledge, smart lending, private sector partnerships, and tools to manage risk. That’s the whole playbook. But Burundi and Nigeria are just two pieces of a much bigger picture. So far, we’ve connected 43 million people across the region, and we’re on track to connect tens of millions more to modern energy this year. We also connected 135,000 businesses and 20,000 public institutions like hospitals and schools. That’s energy for everyday life. Families, businesses, entire economies.
[Jessica Erickson Stiefler]
So, what does energy mean for us? It means more jobs, a student learning, a hospital saving lives, a business thriving.
[Ashish Shrestha]
It means dignity, opportunity, a future.
[Jessica Erickson Stiefler]
Energy is not just infrastructure.
[Ashish Shrestha]
It’s the foundation of development.
[Jessica Erickson Stiefler]
Thank you.
[Applause]
[Lively music]
