News Column

The WB Grants Burundi U.S.$100 Million

July 28, 2014



The World Bank recently granted $100 million to Burundi for energy production.

Tabu Abdallah Manirakiza, Minister of Finance, Economic Development and Planning said the signing of a financing agreement was done in the context of the implementation of the hydropower plant project on Jiji and Murembwe rivers.

"With financial support from the World Bank, the government of Burundi has initiated a multi-sectoral infrastructure project on water and electricity," he said.

Rachidi Radji, Resident Representative of the World Bank in Burundi, said the signing of the grant of $100 million means the beginning of the fulfillment of commitments for the financing a project of approximately $270 million.

"This completes the funding of about $ 340 million that the World Bank made last year for the regional hydropower project on Rusumo including $113 million for Burundi," he said.

He also revealed that in addition to support for increasing capacity to 50 MW, the project will also support the reform REGIDESO including improving its performance by paying attention to the reduction of technical losses and especially commercial, thus create the habit of payment of electricity by all users.

It was on 22 April 2014 that the World Bank'sBoard of Executive Directors approved that grant.

The current supply electric power in Burundi is extremely limited, less than 40 MW are produced to which is added 15 MW of imported electricity from Rusizi 1 and Rusizi 2 in the Democratic Republic of Congo.

However, considering the current projects of increasing the production of energy on national and regional level, Burundi projects to produce 403.5 MW by 2019.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: AllAfrica


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters