OFID signs grant agreement to boost sustainable Energy Development in the ECOWAS region

Vienna, Austria, February 22, 2016. The OPEC Fund for International Development (OFID) has signed new public sector loan and grant agreements totaling over US$60m to help boost socio-economic development in nine partner countries. The agreements were signed by OFID Director-General Suleiman J Al-Herbish and high-ranking officials of the beneficiary countries, including HE Amara M. Konneh, Minister, Ministry of Finance and Development Planning of Liberia, HE Mubin Mirzaev, Deputy Minister of Finance of Uzbekistan and Mr. Mahama Kappiah, Executive Director of ECREEE.

Regarding the development of sustainable energy in the West African region, OFID signed with ECREEE, an agreement in the amount of US$860,000 (grant). ECREEE will use this support to provide communities, businesses, small enterprises and public buildings with access to modern energy services through the implementation of mini-grid schemes in some of the ECOWAS Member States, where over 4,200 people will directly benefit.

The activities to be implemented are aligned with the objective of ECREEE to improve energy security, increase access to modern, affordable and reliable energy services and support the region´s economic and social development in an environmentally benign manner through the promotion and use of renewable energy and energy efficiency technologies in ECOWAS member States.