M a r k e t N e w s

World Bank Agrees $150m for Modern Energy in Rwanda

Posted on : Wednesday , 18th November 2020

The World Bank board of directors approved $150 million in financing to improve access to modern energy for enterprises, households, and public institutions in Rwanda and to improve the efficiency of electricity services.  

 

From the total amount of $150 million, $75 million will be provided as grant funding and $75 will be provided as a loan.

 

Enhancing the achievement of previous World Bank support to the energy sector, the Rwanda Energy Access and Quality Improvement Project (EAQIP) is focusing to improve Rwanda’s progress towards achieving UN Sustainable Development Goal 7 (SDG7) to ensure access to reliable, sustainable, affordable and modern energy for all, while also contributing to the country’s aim of reducing reliance on cooking fuel by 50%.

 

“The proposed project is opportune to develop on the World Bank’s decade-long support to the Government’s energy sector agenda. It will grant directly to Rwanda’s push toward universal energy access by the year 2024 and universal access to clean cooking by the year 2030”, said Rolande Pryce, World Bank country manager for Rwanda. “We are honoured to be a long-term partner in this journey.”

 

Rwanda Energy Access and Quality Improvement Project (EAQIP) aims to improve electricity connection by providing funding for the country’s ongoing programme of expanding grid connections for commercial, industrial, residential, and public sector consumers, as well as by providing grants to lower the costs of off-grid solar home systems. The project will also increase the availability and efficiency of low-cost renewable energy by restoring capacity at the Hydro-Power Project, Ntaruka, reducing voltage fluctuations on transmission lines, and supporting the national smart meter programme.

 

 

Source : www.abafnz.com
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