(Ecofin Agency) - World Bank approved $40 million in financing to Madagascar to develop the Electricity Sector Operations and Governance Improvement Project (EGOSIP). The money granted under the International Development Association (IDA) will enable the national power distributor -JIRAMA- to implement its restructuring program prepared in 2016.

Specifically, the project will focus on restructuring the company, upgrading the power dispatch center and network automation systems, as well as rehabilitating and strengthening the national grid to improve electricity supply.

“Although Madagascar has made encouraging progress in improving the country’s power sector performance in recent months, efforts to enhance the financial and operational performance of JIRAMA and to transition to renewable energy need to be consolidated and scaled up,” said Coralie Gevers (photo), World Bank Country Manager for Madagascar.

Let’s remind that Madagascar is currently the 185th out of 190 countries in Doing Business Report 2017’s ‘Getting Electricity’ indicator. Back in 2016, electrification rate stood at 15% (39% in urban areas and 5% in rural areas).

Gwladys Johnson Akinocho