The International Development Association (IDA), a subsidiary of the World Bank, has granted Lesotho $40 million for a renewable energy electrification project. The project targets rural areas in particular.
To provide access to electricity for the entire population and businesses, the Government of Lesotho has launched the Renewable Energy and Energy Access Project. The initiative has just received support from the International Development Association (IDA), a subsidiary of the World Bank. The financial institution is providing a $40 million loan to Lesotho. To this amount, the World Bank has added $12.9 million under its Renewable Energy Development Programme (SREP).
The financing is aimed at accelerating the implementation of this project, which aims to provide electricity to households in rural and peri-urban areas, small and medium enterprises (SMEs) and economic centres that are both grid-connected and off grid. In peri-urban areas, electrification will be achieved through grid extension. Off-grid systems will be favoured in rural areas. Read more…
