Liberia’s energy sector has received a major boost following the approval of a $42 million combined loan and grant financing agreement from the African Development Bank (AfDB).
The Front Page Africa reported that the funding is aimed at facilitating the smooth implementation of the Liberian Energy Efficiency Project (LEEAP).
Contributions to the project include the African Development Fund (ADF) with $12.75 million, the Transition Support Facility ($5.68 million), the Nigeria Trust Fund contributing $9.56 million, the European Union Africa Infrastructure Trust Fund ($10.89 million) and the Global Environment Facility ($2.518 million).
According to media, the AFD Board approved the loan in December 2016 and was signed in February 2017.
Media further quoted a press release by the finance ministry stating that the loan and grant financing agreement, which was signed by finance and development planning minister, Boima Kamara on behalf of the Liberian government, will now be forwarded to the National Legislature for deliberations and ratification.
It is reported that the LEEAP project has a four-year life span with preparatory activities that commenced in 2016 and is expected to provide a total of 13,000 electricity connections. Read more...
Once fully implemented, the project is expected to directly impact about 65,000 people who will gain access to reliable electricity, through the connections of up to 40,000 households.
The project will also provide training opportunities for at least 150 staff in the power sector as well as students in vocational schools across the country. Read more...
The LEEAP project further aims at increasing the Liberian population's access to electricity from the current 2% to 5% by 2019 while promoting energy efficiency and strengthening the institutional capacity in the electricity sector.
LEEAP is reported to form part of a larger multi-donor programme aiming to improve access to electricity in Liberia.
The Liberian electricity connections project involves the construction of 46.1km of transmission line and 280km of distribution line in the corridors of the Roberts International Airport (RIA), media reported.
The project serves as the extension of the EU financed cross-border electrification project from Pleebo to Fish Town in the River Gee County in Liberia’s south eastern region.