- World Bank to fund $150 million electricity project
- At least 7 million Somalians to benefit from the project
The World Bank has announced that it will provide up to $150 million in funding for Somalia’s electricity recovery project. According to a statement issued by the bank, the project will improve electricity access and increase access to cleaner and more affordable electricity for at least 1.1 million households.
”The project also aims to reestablish a stable electricity supply and support regional integration,” the statement read.
”The combined impacts of the Covid‐19 pandemic, devastating flooding, droughts, and a desert locust infestation further undermine economic recovery and efforts to reduce poverty,” the World Bank stated.
Speaking on the development, the World Bank Country Manager for Somalia, Kristina Svensson, said, ”This project complements and leverages programmes by the World Bank Group and those of international partners in Somalia by scaling up investments to improve service delivery.”
The electrification project will provide electricity to access to 205 healthcare facilities and 380 schools. An estimated 7 million Somalians will benefit from this project.