African Development Fund agrees $35m financing for Liberia renewable energy
The African Development Fund has approved a $34.74 million grant and loan to boost renewable energy access and promote an attractive investment climate in Liberia.
Under the first project, the Renewable Energy for Electrification in Liberia, has been handed more than $33 million, primarily in the form of a grant from the bank and the Strategic Climate Fund’s Scaling-up Renewable Energy program.
The funds will go towards construction of a mini dam on the St John River in Nimba County, in northeastern Liberia, and the development of the Gbedin hydropower Falls with a total capacity of 9.34 megawatts of power, to be transmitted through an 8km, 33kV line connecting 7,000 households.
The second project - Support to Investment Promotion Agencies in Transition Countries – received approval for an additional $1 million to assist in promoting business investment in Liberia and building the capacity of the National Investment Commission. The funds will come from the bank’s Transition Support Facility.
