US Exim Bank approves $91mln for rural electrification project in Senegal
Friday, 03 April 2020 18:41
The Export-Import Bank of the United States has just approved a loan of $91.5 million to facilitate rural electrification in Senegal. The funds will facilitate the export of US engineering and construction services in the rural electrification sector.
The project will benefit about 330,000 people in more than 415 villages and create 500 jobs in 14 states in the United States notably California, Colorado, Florida, Georgia, Illinois, Kentucky, Mississippi, Missouri, New Hampshire, Nevada, Ohio, South Carolina, Tennessee, and Wisconsin.
The fund will support the activities of Weldy Lamont, a company that exports equipment such as solar panels to Africa.
“The selection of Weldy Lamont for this project is a significant win not only for this Illinois-headquartered small business and its workers across fourteen states but also for the United States and Senegal [...] We are pleased to support this U.S. small business as it exports its ‘Made in the U.S.A.’ renewable energy products to sub-Saharan Africa,” said Kimberly Reed, the President of the Exim Bank of the USA.
The project is valued at a total of $100 million.
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