Togo : New electrification strategy already attracting funds

Energy
Monday, 02 July 2018 15:05
Togo : New electrification strategy already attracting funds

(Togo First) - The recent roundtable organized by Togo’s government to raise funds for its new electrification strategy is already bearing fruits.

Indeed, an official statement released by AfDB and relayed by republicoftogo.com indicates that the institution will finance the strategy with €120 million (€30 million in own funds and €90 million from partners) over the off-grid power development project’s first two years of implementation.

Another institution engaged in the initiative is BOAD which plans to inject CFA21 billion into mini-grids.

Next is the ECOWAS Bank for Investment and Development (BIDC) which will invest $40 million in the Togolese project. The money will be used to finance solar kit suppliers.

World Bank which co-organized the roundtable also promised $30 million for the project which aims to provide electricity to all Togolese by 2030. Other lenders are analyzing modalities to support the strategy both technically and financially, AfDB’s statement adds.

The Regional Off-Grid Electrification Project (ROJEP) could enable solar kits firms to benefit from a credit line of $148 million from World Bank. Its implementation should begin in January 2019.

Séna Akoda

To contact us: c o n t a c t [@] t o g o f i r s t . c o m

Please publish modules in offcanvas position.