WASHINGTON, April 10, 2018 - The World Bank’s Board of Executive Directors today approved additional financing for the following project:
Second Rural Electrification and Renewable Energy Development (RERED II) Project
IDA Loan: US$55 million
Terms: Maturity = 38 Years, Grace = 6 Years
Project ID: P131263
Project Description: This additional financing to the Second Rural Electrification and Renewable Energy Development (RERED II) Project will install 1,000 solar irrigation pumps, 30 solar mini-grids, and about 4 million improved cookstoves in rural areas. The project will enable about 10 million people living in villages, shoals, and islands to access electricity and use energy efficient cookstoves. These interventions will help the country reduce carbon emissions.