Togo Secures CFA6 Billion for Rural Electrification from BOAD

Energy
Tuesday, 24 September 2024 14:15
Togo Secures CFA6 Billion for Rural Electrification from BOAD

(Togo First) - During its 143rd board of directors meeting, the West African Development Bank (BOAD) approved a CFA6 billion allocation to support rural electrification in Togo. 

The BOAD approved a total of CFA105.6 billion in new financing to support the region's economies. Including the recent funds, the Bank has disbursed  CFA8,854.3 billion for the Union since its launch in 1976.

The new financing will impact 172 localities by extending the electricity distribution network, aligning with Togo's goal of universal electricity coverage by 2030. Currently, the coverage rate stands at 66%. The funding is expected to add 9.3 GWh to the grid in the first year, providing electricity to around 35,000 residents and creating over 600 jobs.

Additionally, Togo is working on constructing energy infrastructure, including a project to electrify 317 localities using solar mini-grids. The World Bank supports the Togo Energy Reform and Investment Project (PRISET), which includes rehabilitating the Lomé power grid and reducing power outages.

Another initiative, the Lomé Power Grid Extension Project (PEREL), is being financed by the Agence Française de Développement (AFD), the European Union (EU), and KFW (German Development Bank) to improve electrical infrastructure in the capital.

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