Posted on :Wednesday , 18th November 2020
The World Bank board of directors approved $150â€¯million in financing toâ€¯improve access to modern energy for enterprises, households, and public institutions in Rwanda and to improve the efficiency of electricity services.
From the total amount of $150 million, $75 million will be provided as grant funding and $75 will be provided as a loan.
Enhancing the achievement of previous World Bank support to the energy sector, the Rwanda Energy Access and Quality Improvement Project (EAQIP) is focusing to improve Rwandaâ€™s progress towards achieving UN Sustainable Development Goal 7 (SDG7) to ensure access to reliable, sustainable, affordable and modern energy for all, while also contributing to the countryâ€™s aim of reducing reliance on cooking fuel by 50%.
â€œThe proposed project is opportune to develop on the World Bankâ€™s decade-long support to the Governmentâ€™s energy sector agenda. It will grant directly to Rwandaâ€™s push toward universal energy access by the year 2024 and universal access to clean cooking by the year 2030â€, said Rolande Pryce, World Bank country manager for Rwanda. â€œWe are honoured to be a long-term partner in this journey.â€
Rwanda Energy Access and Quality Improvement Project (EAQIP) aims to improve electricity connection by providing funding for the countryâ€™s ongoing programme of expanding grid connections for commercial, industrial, residential, and public sector consumers, as well as by providing grants to lower the costs of off-grid solar home systems. The project will also increase the availability and efficiency of low-cost renewable energy by restoring capacity at the Hydro-Power Project, Ntaruka, reducing voltage fluctuations on transmission lines, and supporting the national smart meter programme.