Off the wire
• SA aggressively researching on HIV: minister  • Japan's Sharp to build solar power plant in Mongolia  • New anti-HIV vaccine presented at 2016 International AIDS Conference  • EU says Brexit vote to worsen UK, EU economic outlook  • Chinese premier demands efforts to boost social investment  • Heavy rain hits north China  • 1st LD-Writethru: China Focus: Remains of canal found in Yinxu oracle site  • 5th LD Writethru-China Focus: 24 mainland tourists killed in Taiwan coach fire  • Young man shot dead in Helsinki  • Bulgarian beer market grows by 2.0 pct in 2015  
You are here: 　 Home

World Bank boosts Sierra Leone's electricity generation

Xinhua, July 19, 2016 Adjust font size:

The World Bank group has boosted Sierra Leone's electricity generation with an offer of 138 million U.S.dollars, the World Bank Country Director announced on Monday.

Mr. Parminder Brar told media that the money will "go to funding ongoing efforts to stabilize the generation of electricity in the Western Area of the capital, Freetown."

He explained that the funding is done by the International Development Association (IDA), the International Finance Corporation (IFC) and the Multilateral Investment Agency and will entail the development of a 57 megawatt heavy fuel oil green field thermal plant.

The World Bank Country Manager promised a major progress in the electricity sector because about "85% of Sirra Leone's population is without electricity according to World Bank figures".

This, Mr. Parminder Brar said, is "a fundamental economic problem to the manufacturing industry as well as for education".

He noted that the country's electricity breed, the Bumbuna hydro project is "inconsistent".

He told journalists that the plant will be located in the east end of the capital and is expected to be operational in June or July of 2018 but the financial clearance on the project is slated for September this year, when construction work will commence.

Mr. Brar said the project is focused in Freetown and its surroundings partly because according to Mr. Brar, Sierra Leone as a whole has "a lack of infrastructure to transmit electricity effectively".

To fund the project, the World Bank is providing a credit guarantee of 40 million USD, the IFC is providing a loan of 30 million USD whilst the balance is provided by other World Bank partners.

The loan is expected to be paid back in a 15 year time frame.

Electricity distribution has been a thorny issue in Sierra Leone especially in the capital, Freetown. Endit