- The project will benefit over 17.5 million unserved, underserved, rural, and remote Nigerians through the deployment of standalone solar and mini-grids.
- The initiative will replace over 280,000 polluting and expensive petrol and diesel generators, helping Nigeria to achieve energy transition targets.
- Under the project, up to 237,000 small businesses will access reliable and clean electricity for productive uses.
The International Development Association (IDA) is readying a credit of $750 million from the World Bank’s fund for poor nations to support clean energy initiatives in Nigeria.
The goal is to enhance electricity access to roughly 17.5 million people in Africa’s most populous nation, addressing the critical need for improved power infrastructure and sustainability in the country.
Founded in 1960, IDA offers grants and loans with low to zero-interest rates to support projects and programs aimed at enhancing economic growth, alleviating poverty, and enhancing the well-being of poor populations. Serving as a …
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