Liberia's Energy Sector to gain a great support from the World Bank package

Liberia's Energy Sector to gain a great support from the World Bank package

The Regional Off-Grid Electrification Project will provide U.S.$150 million in the form of credit and grants from the International Development Association for West African countries, and also U.S.$74.7 million for the renewable energy sector.

 

The project is anticipated and likely to benefit about 1.7 million people at present living without electricity connection or with irregular supply, as well as businesses and public institutions who will be using modern stand-alone solar systems in order to improve their living standards and economic activities.

 

The countries include Liberia, Benin, Burkina Faso, Cabo Verde, Cameroon, Central African Republic, Chad, Cote d'Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Mali, Mauritania, Niger, Nigeria, Senegal, Sierra Leone and Togo.

 

The main purpose of ROGEP is to boost electricity access of households, businesses, and public institutions using modern stand-alone solar systems via a harmonized regional approach. 

 

The new project will help accquire regional standards and regulations to establish a regional market with balanced policies that will attract larger market players for the benefit of all participating countries.

 

Coordinating Director for Regional Integration in West Africa, Rachid Benmessaoud, said, "So far, only 3 percent of households in West Africa and the Sahel are distributed by stand-alone solar home systems, and 208 million people in the sub-region do not have access to electricity. The project persue to assist regional policy makers to address obstacles to create a regional market for stand-alone solar systems, which is necessary to decrease energy poverty in the region, and entrepreneurs to take opportunities in this market via development of scalable business solutions." 

 

While, stand-alone solar systems have a large market capacity and ability in West Africa and the Sahel, investments in off-grid renewable energy have lagged behind in the sub-region.

 

The new project maximizes finance for development by pervading in private investments to arranging innovative technologies. 

 

By developing a regional market, it will help better address the important growth in demand for dependable electricity and will help create jobs.

 

The new project is placed with the World Bank Group's twin goals of poverty reduction and shared prosperity and the Africa Climate Business Plan.