BR100 Increased By (0.2%)
BR30 Increased By (0.41%)
KSE100 Increased By (0.07%)
KSE30 Increased By (0.23%)
AGHA 7.75 Decreased By ▼ -0.17 (-2.15%)
BECO 5.19 Decreased By ▼ -0.01 (-0.19%)
BML 58.66 Decreased By ▼ -0.59 (-1%)
BOP 33.69 Increased By ▲ 0.01 (0.03%)
CNERGY 10.61 Increased By ▲ 0.80 (8.15%)
CSIL 5.30 Decreased By ▼ -0.12 (-2.21%)
FCCL 53.74 Increased By ▲ 0.22 (0.41%)
FFL 16.46 Decreased By ▼ -0.22 (-1.32%)
FNEL 1.22 Increased By ▲ 0.01 (0.83%)
KEL 7.28 Decreased By ▼ -0.07 (-0.95%)
KOSM 5.64 Increased By ▲ 0.03 (0.53%)
LOTCHEM 29.65 Increased By ▲ 0.54 (1.86%)
MLCF 96.36 Increased By ▲ 0.86 (0.9%)
NBP 203.53 Decreased By ▼ -0.82 (-0.4%)
NCPL 56.85 Decreased By ▼ -1.39 (-2.39%)
NPL 67.31 Decreased By ▼ -0.48 (-0.71%)
OGDC 318.22 Increased By ▲ 0.28 (0.09%)
PACE 10.63 Decreased By ▼ -0.08 (-0.75%)
PAEL 41.77 Decreased By ▼ -0.06 (-0.14%)
PIBTL 16.81 Increased By ▲ 0.31 (1.88%)
PPL 220.17 Increased By ▲ 0.43 (0.2%)
PRL 49.05 Increased By ▲ 4.46 (10%)
PTC 70.01 Decreased By ▼ -0.76 (-1.07%)
SSGC 29.14 Increased By ▲ 0.21 (0.73%)
TBL 9.77 Decreased By ▼ -0.07 (-0.71%)
TELE 8.82 Increased By ▲ 0.06 (0.68%)
TPL 17.17 Increased By ▲ 0.72 (4.38%)
TPLP 12.51 Increased By ▲ 0.41 (3.39%)
TREET 22.59 Decreased By ▼ -0.21 (-0.92%)
TRG 60.22 Increased By ▲ 0.19 (0.32%)
By

LOME: The World Bank will grant Togo $200 million for energy infrastructure projects to help tackle the West African country’s devastating electricity crisis, according to agreements signed Friday.

In recent months, Togo has been battered by power cuts that have spurred rising discontent at a time of already febrile political tensions.

Hailing the agreement as timely, the country’s economy and finance minister Sani Yaya said the funding would help build new transmission lines, benefitting Togolese living in rural areas in particular. “It will help to strengthen the supply of electrical energy to enable more than 1.5 million people to benefit from better access to electricity,” the minister said.

The crisis is in large part caused by regional powerhouse Nigeria limiting its electricity deliveries to Togo, Niger and Benin since May 1 for a period of six months.

Togo imports a large part of its electricity from Nigeria and is several million dollars in debt to Nigeria’s electricity operator, according to the operator’s accounts.

Besides the electricity infrastructure funding, the World Bank agreed to provide another $75 million to improve the management of Togo’s public sector human resources and finances.

It also allocated $23 million to provide further support to refugees, displaced persons and the communities hosting them in northern Togo.

Comments

Comments are closed for this article.