The ECOWAS Bank for Investment and Development (EBID) and the Government of the Republic of Benin have signed a loan agreement in the amount of $21.1 million for solar projects in the West African nation.
Benin’s Ministry of Finance and Economy, and EBID will participate in financing the electrification of 750 rural community infrastructures in the country, using solar photovoltaic systems.
The Honourable Minister of Finance and Economy, Mr. Romuald WADAGNI, represented the Government. The Minister of Energy, Mr. Jean Claude HOUSSOU, other Government functionaries and officials of EBID attended the loan signing event.
The project to be implemented in 11 of Benin’s 12 departments, namely Alibori, Atacora, Atlantique, Borgou, Collines, Couffo, Donga, Mono, Ouémé, Plateau and Zou involving 336 health centers, 184 security centers and 230 general education colleges to be solar powered as part of the effort to improve the quality of basic social services in the areas, and ensure energy autonomy and uninterrupted service of the facilities. Ultimately, the project is expected to increase access to clean energy, provide the power required to run community infrastructure of the beneficiary localities, strengthen the capacity of management, operation and maintenance structures for the sustainability of off-grid facilities.
EBID’s support is consistent with the ECOWAS master plan for rural and peri-urban electrification (universal access to energy, energy security and the need to make clean and renewable energy accessible to all). Furthermore, the project is in line with Benin’s Strategic Energy Development Plan, particularly the rural electrification component which aims to achieve an electrification rate of between 79 and 92% by 2035, and thus contribute significantly to meeting the electricity demand of the country’s community infrastructure considering that the lack of access to modern energy services such as electricity and the high cost of these services have been identified as one of the main obstacles to poverty reduction and achievement of the sustainable development goals in Africa.