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EIB approves €340 million fund
- Bulk of the fund to be used to construct renewable infrastructure in five countries.
- The project is under the WAPP.
€340 million has just been approved by the European Investment Bank. This money is to be used to fund the construction of renewable infrastructure and water across five African countries. The countries to benefit from the fund include Malawi, Mali, Comoros, Chad and Guinea.
Majority of this fund (about €300 million) is to be used for electrical linkage between Mali and Guinea. Also, there will be the installations of transformer stations in Kankan, Fomi, Siguiri, Kerouane, Beyla and Sanankoroba.
This project funded by the EIB is part of the West African Power Pool (WAPP). The WAPP will also construct a 714 km long 225 kV double-circuit AC power line, from Sanankoroba in Mali to Nzérékoré in Guinea.