By Ayodele Deen Cole
The Energy Sector Lead, Dr Kandeh Kolleh Yumkella has recently disclosed that the World Bank is committed to a long-term engagement and has stepped up its support to energy sector.
He made the disclosure recently in Parliament while responding to questions and concerns from members of the legislative house.
According to KKY, the World Bank has support to the energy sector totals $228 million currently, adding that the fund is being used with an integrated strategy focusing on: (i) ensuring regional energy trade with ECOWAS countries, (ii) ambitious targets for grid and off-grid energy access, and (iii) turnaround of energy sector utilities to enable private sector investment in power generation.
He also stated that the energy sector funds totaling $228 million is currently focusing on (i) regional integration for the security of supply, (ii) financial turnaround and governance reforms in utility (EDSA), and (iii) energy access in rural areas.
