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» 01.03.2010 - Regional bloc hails Ivorian progress
» 17.02.2010 - Jonathan appeals for concerted efforts to fight drug trafficking
» 09.02.2010 - West African gender fight receives UN boost
» 07.01.2010 - West African peace at stake, Ban
» 17.12.2009 - Media rights group condemns arrest of media players
» 21.10.2009 - Niger lashes out at ECOWAS decision
» 16.10.2009 - Shrinking of Lake Chad could spell regional catastrophe
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West Africa | World
Politics | Economy - Development

World Bank approves funding of major continent’s projects

afrol News, 19 June - The World Bank has announced yesterday it had approved a number of projects for the continent, including four projects in Nigeria totaling more than $1 billion.

Included in the Nigerian funding is a $200 million to assist in network investments and technical assistance to improve electricity supply and $400 million to support development of the domestic gas market, the bank said.

The bank also approved three further projects - dedicated to HIV/AIDS and malaria prevention and a Lagos educational program - worth $420 million.

Approval of the four projects was "a major milestone in our partnership with Nigeria," said Onno Ruhl, the World Bank's country director.

The Bank has also approved an IDA Credit of $120 million equivalent for the Energy Support Project for Mali, which is to improve the access and efficiency of electricity services in Bamako and in other targeted areas in the country.

According to the bank, this includes financing the upgrade for the electricity transmission line between Segou and Bamako, upgrading and reinforcing 30 kv facilities in the peripheral area of Bamako, including the 150 kkv loop, upgrading and reinforcing low and medium voltage distribution networks in Bamako, and upgrading and reinforcing medium and low voltage distribution networks in areas of, among other, Kati, Segou, Kayes, Mopti, Sikasso, and Koutiala.

The credit will also help finance a residential lighting programme to replace incandescent or neon light bulbs with compact fluorescent lamps (CFLs), in urban and rural households, a street lighting programme to replace incandescent or neon light bulbs by CFLs and or high pressure sodium vapour lamps, in key urban and rural centers, and also for public facilities.

Another financing approved by the bank is the Cameroon Agricultural Competitiveness Project, which will a credit equivalent of $60.

The objective of the Agricultural Competitiveness Project for Cameroon is to increase the competitiveness of eligible producer organisations working on target value chains.

The project financing will rehabilitate key rural infrastructure and will also help fund coordination, monitoring, and evaluation for the implementation.

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