The World Bank has approved a $27m loan to Liberia to support access to energy for rural Liberians, All Africa reports. The goal of the funding is to increase access to affordable and reliable electricity in the country and increase renewable energy sources in Liberia.
The funding will increase access to electricity for around 150,000 people through investment in electricity infrastructure, a hydro-plant and solar projects. The plan targets areas which are not currently plugged into the national grid and promotes the use of renewable resources to combat high fossil fuel prices and insufficient access for rural Liberians.
“This project, aligned with Liberia’s development strategy, Agenda for Transformation, targets electricity service expansion, reduction of the cost of electricity and fostering renewable energy resources, which are essential components for achieving sustainable economic transformation and poverty reduction,” said Inguna Dobraja, World Bank Liberia Country Manager.