The World Bank has announced that it will grant up to US$50 million to Mozambique to help the country reduce carbon emissions and deforestation, according to a statement released this week in Washington.
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The government of Zambia will see funds from the World Bank in the amount of $26.5 million to enhance electricity access across rural areas. The project has been funded by a financial credit and will be implemented by the Rural Electrification Authority and ZESCO (the state-owned power company in Zambia).
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The World Bank Group said on Monday that it would double its current five-year investments to US$200 billion in the period 2012 through 2025 to support countries in their climate action plans.
Read MoreThe World Bank will provide 19 West African countries $200 million in funding as part of the Off-Grid Electrification Project (Ropeg). Implemented by Cedeao’s Ecreae Center for Renewable Energy and Energy Efficiency, the initiative will enable the deployment of solar photovoltaic systems for households, utilities and production infrastructure.
Read MoreZambia will complete its first large-scale 50 MW solar power generation plant in September this year as the nation battles a power deficit which threatens industrial output, a state-owned agency said on Tuesday.
Read MoreThe World Bank approved a $180-million loan guarantee on Monday for Kenya Electricity Generation Company to help strengthen the financial position of the state-run company, which produces more than 70% of the country’s electricity.
Read MoreChanges in generation technologies, including the sharp fall in solar photovoltaic (PV) costs, means that the evolution of electricity systems in sub-Saharan Africa (SSA) will need to involve more than one national grid, a new World Bank report argues.
Read MoreThe World Bank has approved funding worth $150 million for public company Eletricidade de Moçambique (EdM), the company announced in a statement. The amount will be delivered through the International Development Association (IDA) and is intended to “improve EDM’s grid operating capacity as well as operational efficiency.”
Read MoreThe World Bank said May 31 it will provide a $29mn loan to Senegal to strengthen the country’s institutional capacity to negotiate oil and gas deals. It said this would lay the foundations for the gas sector’s economic contribution through enhanced regulatory frameworks and capacity building.
Read MoreIFC and MIGA, members of the World Bank Group, have announced the commitment of $517 million in debt and guarantees to support Ghana’s Sankofa Gas Project, an integrated offshore oil and natural gas project that will provide a source of reliable, affordable energy in the West African country.
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