Lenders provide US$210 million to boost Ghana energy, including hydro

The World Bank and other development partners have pledged to supply US$210 million to increase electricity access, supply, and reliability in Ghana.

In support of Ghana’s multi-faceted energy sector strategy, the program is to provide grants to developers of renewable energy generation projects, such as small hydropower, wind, and biomass, for the benefit of communities outside the main national grid system. It also is to finance establishment of an independent Rural Electrification Agency, which will coordinate all rural electrification programs.

The World Bank’s International Development Association is to provide a US$90 million credit, while the bank’s Global Environment Facility provides a US$5.5 million grant. Other funding includes US$50 million from the Africa Catalytic Growth Fund, US$18.25 million from the African Development Bank, US$6.25 million from the Global Partnership on Output-based Aid, US$7.75 million from Ghanaian Financial Intermediaries, and US$11 million from the Swiss Agency for Development and Cooperation.

Ghana’s Energy Development and Access project is to improve performance of power companies, increase energy efficiency, scale up energy access to reduce inequity of the urban-rural imbalance, and enhance renewable energy generation capacity.

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