World Bank approves $176m for two new West Africa Power Pool projects
The World Bank has approved $176 million for two new projects under the West Africa Power Pool (WAPP) programme to increase electricity supply in the region.
The funds were okayed by the Bank’s Board of Executive Directors on May 31, 2012 and it comes in two forms – $144.5 million in zero interest and a $31.5 million grant.
Countries to benefit from the two projects are Côte d’Ivoire, Liberia, Sierra Leone, and Guinea.
According to the World Bank’s Director for Sustainable Development in Africa, Jamal Saghir, the projects will integrate electricity systems, increase electricity supply, and improve system reliability in these countries.
Yusupha Crookes, the World Bank Country Director for Liberia, Sierra Leone and Ghana said “These countries will be able to import significantly cheaper electricity from Côte d’Ivoire in the initial years of operation of the transmission interconnection.”
The World Bank said the estimated cost for the two projects is expected to be $476 million, with $176 million being financed by the International Development Association (IDA), and $280 million coming from the African Development Bank (AfDB), the European Investment Bank (EIB) and $20 million from the participating governments.
By Ekow Quandzie
Interesting, because current Ivory coast leader use to work with World Bank. Nice and Ghana is left out, not only those countries can import hydro from Ivory Coast, Ghana wasn’t mention.
WHAT A GREAT NEWS FOR MY COUNTRY – SIERRA LEONE, AND THEY OTHERS AS WELL, BUT PLEASE, LET THIS PROGRAM BE VERY SERIOUSLY MONITORED AT ALL LEVELS OF IT’S IMPLEMENTATION. THE ULTIMATE ACCOMPLISHMENT WILL SURELY STABILIZE SUSTAINABILITY IN DEVELOPMENT FOR THE MRU COUNTRIES.
THANK YOU – THE WORLD BANK.