- The African Development Fund (AFD) will finance the preparatory phase of a rural electrification project in Togo which wants to develop mini-grids in 317 localities.
The financing consists of a €2.73 million loan from the AFD – the loan window for preferential rates from the AfDB – plus a $1m grant from the Sustainable Energy Fund for Africa (SEFA).
“By boosting private sector financing and improving both electrification and climate resilience, the project will have a positive impact on the most vulnerable groups in rural areas in Togo,” said Wilfrid Abiola, Country Manager of the African Development Bank in Togo.
Robil Nassoma, director general of the Togolese Energy Agency, said: “With this new project and funding from the African Development Bank, we share a strong ambition, that of electrifying 317 rural localities. The Bank’s support will help catalyse private sector financing to make electricity available in the target areas served in Togo’s five regions.”
Dr Daniel Schroth, Director of the AfDB’s Renewable Energy and Energy Efficiency Department said the Bank supports Togo’s objective of achieving universal access to energy by 2030 through the project loan.
“This project will increase economic growth and reduce the negative impact on the environment, by increasing renewable energy in Togo by catalysing investments in the private sector in access to clean and sustainable energy for the underserved rural population of Togo,” said Schroth.
Author: Theresa Smith
Theresa Smith is a conference producer for Vuka Group.
This article was originally published on ESI Africa and is republished with permission with minor editorial changes.