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The facility includes a credit and grant of $ 150 million from the International Development Association (IDA) and a conditional recovery grant from the Clean Technology Fund of $ 74.7 million.
This is to help the West African Development Bank and the ECOWAS Center for Renewable Energy and Energy Efficiency to expand off-grid access to electricity in 19 countries around the world. West Africa and the Sahel region.
The following countries are: Benin, Burkina Faso, Cape Verde, Cameroon, Central African Republic, Chad, Côte d 'Ivoire, Gambia, Ghana, Guinea, Guinea Bissau, Liberia, Mali, Mauritania, Niger, Nigeria, Senegal, Sierra Leone and Go.
The overall goal of the Off-Grid Regional Electrification Project (ROGEP) is to increase access to electricity for households, businesses and public institutions using autonomous solar systems. with a harmonized regional approach.
The project is expected to benefit about 1.7 million people currently living without an electrical connection or unreliable supply, as well as businesses and public institutions that will use modern autonomous solar systems to improve their standard of living and economic activities.
"So far, only 3% of households in West Africa and the Sahel are served by autonomous solar systems, and 208 million people in the subregion have no access to electricity. The project aims to help regional decision-makers overcome obstacles to create a regional market for autonomous solar systems, which is essential for reducing energy poverty in the region, and entrepreneurs to seize opportunities in this market through development. scalable business solutions, "said Rachid Benmessaoud, director of coordination for regional integration in West Africa.
"The new project will contribute to the adoption of regional standards and regulations to create a regional market with harmonized policies that can attract larger market players, in the interest of all countries." participants. "
Although autonomous solar systems have great market potential in West Africa and the Sahel, investments in off-grid renewables have lagged behind in the sub-region. The new project maximizes development finance by pooling private investments to deploy innovative technologies.
By developing a regional market, it will help to better respond to the strong growth of reliable electricity demand and job creation.
The new project is aligned with the World Bank Group's twin goals of poverty reduction and shared prosperity and the African Climate Action Plan.
In addition, it will implement a pilot project to test business models to electrify schools and clinics critical to the West Africa human capital project.
-JoyBusiness
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