Sierra Leone President Julius Maada Bio, who presided over the signing ceremony on Wednesday, said the deal was the beginning of a revolution in energy supply and access in the respective countries. West Africa and Central Africa has one of the lowest electrification rates coupled with some of the highest electricity costs in Sub-Saharan Africa.
The Fiji TimesFour West African nations get $311 million from World Bank for renewables fijitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fijitimes.com Daily Mail and Mail on Sunday newspapers.
FREETOWN (Reuters) - The World Bank has signed an agreement with four West and Central African nations worth $311 million to fund renewable energy projects.
FREETOWN (Reuters) - The World Bank has signed an agreement with four West and Central African nations worth $311 million to fund renewable energy projects. The funds will finance around 106 megawatts (MW) of solar power generation capacity with battery energy and storage systems, and 41 MW expansion of hydroelectric capacity. The countries are Sierra Leone, Liberia, Togo and Chad. The funds will support electricity distribution and transmission interventions. Sierra Leone President Julius Maada Bio, who presided over the signing ceremony on Wednesday, said the deal was the beginning of a revolution in energy supply and access in the respective countries. West Africa and Central Africa has one of the lowest electrification rates coupled with some of the highest electricity costs in Sub-Saharan Africa. Energy costs have increased further because of the impacts of Russia s February 2022 invasion of Ukraine as fuel prices rise. We are paying far more for energy now than we were 18 months