{"id":44144,"date":"2022-07-15T09:07:33","date_gmt":"2022-07-15T09:07:33","guid":{"rendered":"https:\/\/www.africannewspaper.net\/2022\/07\/15\/guinea-66-million-from-the-african-development-bank-to-extend-access-to-electricity-african-business\/"},"modified":"2022-07-15T09:08:04","modified_gmt":"2022-07-15T09:08:04","slug":"guinea-66-million-from-the-african-development-bank-to-extend-access-to-electricity-african-business","status":"publish","type":"post","link":"https:\/\/www.africannewspaper.net\/2022\/07\/15\/guinea-66-million-from-the-african-development-bank-to-extend-access-to-electricity-african-business\/","title":{"rendered":"Guinea: $66 million from the African Development Bank to extend access to electricity – African Business"},"content":{"rendered":"\n
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On 14th July 2022, in Abidjan the Board of Directors of African Development Bank Group (Board of Directors) was electedwww.AfDB.org<\/a>A $66.39 million package of support was approved by the United States for Guinea. This funding will be used to increase electricity access.<\/p>\n

It includes a $4.17million grant and a $9.37million loan from the African Development Fund.https:\/\/bit.ly\/3uL2VBZ<\/a>) (the concessional arm of the African Development Bank Group) and a $24.13 million grant and a $28.72 million loan from the Transition Support Facility (https:\/\/bit.ly\/3z9MySc<\/a>). The French Development Agency, Islamic Development Bank, Sustainable Energy Fund for Africa, hosted at the Bank, USAID, through Africa Energy Program, as well as the Guinean government co-finance this project.<\/p>\n

The Guinea Power Access Improvement Project will improve people\u2019s living conditions and the productivity of beneficiary companies through access to regular, reliable and cheaper energy services, explained L\u00e9andre Bassol\u00e9, the Bank Group\u2019s Country Manager for Guinea. \u201cIn addition to the deployment of electricity infrastructure, the project will support reform initiatives in the electricity subsector and capacity building for its stakeholders. It will also promote the productive use of electricity by providing women\u2019s groups with equipment to increase their productivity. Lastly, public lighting will increase security and give women more time in which to conduct their commercial activities and schoolchildren opportunities to improve their academic performance,\u201d Bassol\u00e9 said.<\/p>\n

797 medium voltage lines will be constructed linking 40 locations in the country. There will also be 47 kilometres mixed lines, 984 kilometers of low-voltage cables, 21 high and low-voltage substations, 128 H61 substations (transformers that have power ranging from 50 to 160 kVA) and 41 substations. 37,367 household connections kits will be provided by the project.<\/p>\n

The project will cover the major cities and surrounding localities of Kankan, K\u00e9rouan\u00e9 and Siguiri in the region of Haute-Guin\u00e9e, and Nz\u00e9r\u00e9kor\u00e9, Beyla and Lola in Guin\u00e9e Foresti\u00e8re. These areas are among the most remote locations in the country where electricity access is limited. They have a population of around 1.2\u00a0million (52.1% women).<\/p>\n

There will be about 100,000 direct beneficiaries of the project (including 72,112 new subscribers) composed of individual households, women\u2019s associations, health centers, schools and businesses.<\/p>\n

The net commitments of the African Development Bank Group to Guinea have tripled in the last decade. The Bank Group\u2019s current portfolio comprises 21 operations totalling around $625\u00a0million. The Bank Group’s current portfolio includes 21 operations totalling approximately $625 million. It places emphasis on energy and transport infrastructure (65.7%), which is aimed at strengthening regional integration. The remaining investments are in mining (15.9%), finance (1.9%), governance (6.7%), agriculture (4.2%), the environment (3.3%), and the social sector (2.6%).<\/p>\n

The Bank bases its country strategy in Guinea on two priority areas. They are improving access to electricity, and developing agroindustrial value chains.<\/p>\n

Distributed by APO Group, on behalf of African Development Bank Group.<\/i><\/p>\n

Media contact:<\/strong> Alexis Ad\u00e9l\u00e9, Communication and External Relations Department: [email\u00a0protected]<\/span><\/p>\n

About the African Development Bank Group<\/strong>
The African Development Bank Group is Africa\u2019s premier development finance institution. It consists of three distinct entities: The African Development Bank (AfDB), Africa Development Fund (ADF), and the Nigeria Trust Fund. The Bank has an office in Japan and is present in 41 African nations. This office contributes to economic development as well as the social progress of 54 of its member countries. For more information, please visit: www.AfDB.org<\/a><\/p>\n<\/div>\n

APO issued this Press Release. APO has issued this Press Release. The content has not been reviewed by African Business’ editorial team. The content of this announcement is solely at the issuer’s responsibility.<\/i><\/p>\n

Source: african.business<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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