ADF to Provide $2 Million for Electricity Reforms in West Africa
- ADF to provide USD 2 million to fund electricity reforms across ECOWAS.
The Board of Directors of the African Development Fund (ADF) has endorsed a technical assistance grant of $2 million to fund research that will contribute to electricity reforms across members of the Economic Community of West African States (ECOWAS), including Nigeria.
ADF, a concessional finance window of the African Development Bank (AfDB), was set up to support economic and social development in 38 least developed countries on the continent. It provides concessional funding for projects and technical assistance for reach and capacity-building.
According to the African Development Bank (AfDB), the electricity reform grant was approved on June 24. The regional bank expects the fund, which is to stimulate cross-border electricity trade and improve energy access in the 15 countries in the region, will go a long way in supporting ECOWAS Regional Electricity Regulatory Authority.