Rwanda gets $125M loan from World Bank, to boost its power sector
(Ecofin Agency) - The government of Rwanda and the World Bank have signed a financial convention valued at $125 million in the framework of the Development Policy Operation (DPO) to support Rwanda’s power sector. This was disclosed by the daily The New Times.
The facility will come as a concessional loan which will help back companies’ initiatives across the country, in favor of the power sector, under the 2017-2024 national strategy for transformation.
Moreover, it should also help boost transparency and responsibility in electrification programmes, improve the quality of supply services, cut energy losses and insure the power sector’s financial viability in the long term.
The loan is the first of a set of three of a total value of $325 million, which will be invested in Rwanda’s power sector.
Let it be recalled that in 2015, Rwanda’s electrification rate was 24.5% while its power production capacity was 186 MW, according to the AfDB.