Priyanka Shrestha Infrastructure & Generation, Markets & Finance 0
The electricity sector in Guinea is getting a $50 million (£29.5m) boost which is expected to benefit around 1.5 million people in the West African nation.
The cash will be used for the Power Sector Recovery Project, which will help improve the “technical and commercial performance” of the national power utility, the Electricite de Guinee (EDG).
It will also fund the rehabilitation and upgrade of the national distribution system to improve electricity reliability and reduce power cuts in the country.
Moez Cherif, Task Team Leader for the project at the World Bank, which is providing the loan said: “Lack of investment and maintenance of power infrastructure in Guinea for many years, combined with poor management of the national power utility, has led to widespread power shortages for households and businesses.
“Today’s project, in combination with investments that are supported by other donors, aims to address those issues, thus leading to increased and more reliable power supply, which in turn will facilitate economic growth and job creation.”