The African Development Bank (AfDB)-managed Sustainable Energy Fund for Africa (SEFA) approved a US $995,000 grant to the Republic of The Gambia to implement a programme to facilitate private investments in Green Mini-Grids (GMG) through the creation of an enabling policy, institutional and regulatory framework, as well as direct support to project development and financing.
The world bank had agreed to give the country a $60 million in budget support after government allegations that former president yahya Jammeh took tens of millions of dollars of public money.
The latest of pledges is the African Development Bank AFDB managed Sustainable Energy Fund for Africa SEFA of about $1million grant to the Republic.
The amount is to implement a programme to facilitate private investment in Green Mini-grids through the creation of an enabling policy and serve as a direct support to project development and financing.
Electricity access stands around 40% country-wide and 12% in rural areas, in the Gambia and mostly powered by fossil fuel generation, which translates into one of the highest consumer tariffs in the region.
The SEFA funded project is expected to support the preparation of appropriate policy and regulatory framework, develop technical standards and guidelines, carry out feasibility studies and structure a tender process to attract the most suitable investors.
“At this time of transition, we are pleased about assisting The Gambia in attracting investments into clean energy mini-grids. These will be key to providing energy to all rural households and businesses, thus laying the foundations for sustainable economic development,” said Engedasew Negash Habtemichael, AfDB Renewable Energy Division Manager.
SEFA was launched in 2012, it is a $95 million multi-donor facility by the governments of Denmark, the United Kingdom, the United States and Italy.
