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Ethiopia
secures 130mln USD loan for rural electrification
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Addis Ababa, July 04, 2007
(WIC) – The World Bank reportedly approved 130 million USD loan for Ethiopia
yesterday in order to help expand electricity access to the rural population
in Ethiopia.
According to a press release issued yesterday, the fund which is part of the
International Development Associations Credit is aimed at providing
electricity access for 295 towns and villages as well as schools and
clinics, benefiting a total population of about 1.8 million.
The project will provide reliable and affordable electricity for rural
communities, thereby enhancing income-generating opportunities, improving
health care and education, and boosting agricultural productivity, the press
release stressed.
It further elaborated that better and cleaner lighting will have a positive
impact on the operating hours of schools and on the hours available for
children to study at night.
Public street lighting will improve the quality of life and the safety of
the population living in the communities, it added.
“This project will establish a sustainable program to expand access to
electricity in rural communities that have long been disadvantaged and
marginalized by the low levels of connection,” said Luiz Maurer, the World
Bank Task Team Leader of the project. ''The 295 towns and villages covered
by the project will see a real improvement in their lives and livelihoods.''
The credit is on standard International Development Association (IDA) terms,
with a commitment fee of 0.5 percent, a service charge of 0.75 percent and a
maturity of 40 years, including a 10-year period of grace, it was learnt.
News
EEPCo electrified eight rural towns, kebeles
in Central Tigray Zone with over 15 mln birr
(July 09, 2007) |
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