-
AfDB approves $2.5 million grant
- Grant to be utilised by COMESA and SADC
- Grant to be used in strengthening intra-regional harmonization of electricity regulations
The African Development Bank (AfDB) has approved $2.5 million in funding for the Common Market for Eastern and Southern Africa (COMESA) and the South African Development Community (SADC). The funding facility will be used to improve intra-regional harmonization of electricity regulations and cross-border electricity trading.
The AfDB approved $1 million for the COMESA and $1.5 million for the SADC. The projects will be implemented through the Regional Association of Energy Regulators for Eastern and Southern Africa (RAERESA) and the Regional Energy Regulators Association of Southern Africa (RERA). The grants will fund technical assistance to promote the development and adoption of regional electricity regulatory principles, enhance capacity to monitor utility performance across the region, conduct a cross-border analysis of electricity tariffs, and develop a centralized database management system in both blocs.
Executive Director of RERA, Mr Elijah Sichone, said ”These projects will contribute to ensuring that soft infrastructure requirements for the development of a regional power market are addressed to complement investments in hard infrastructure that the Bank and other development partners are making in the region,” said Dr Mohamedain Seif Elnasr, Chief Executive Officer, RAERESA,”