The World Bank Group announced on Tuesday June 25, 2024 that it has approved second disbursement of US$45 Million for Liberia’s Renewable Energy Solar Power Intervention Project ( RESPITE) on June 24, 2024.
The project will finance the first 20 Megawatts solar PV project and expansion of Mount Coffee hydropower intended to increase the plant capacity to 129 Megawatts from 88 Megawatts.
The total budget of the project is US$96 Million.
Making the disclosure in the World Bank Group meeting with Vice President Koung, Mr. Ashish Khanna, Practice Manager, West and Central Africa commended the visionary leadership of President Boakai in prioritizing energy as a catalyst for economic growth and development.
Mr. Khanna asserted that Liberia has made tremendous progress in the energy sector and remains the only country in sub-saharan Africa that has reduced distribution losses by 30%, with over half a million new connections to households.
He also emphasized that Liberia’s recent progress in the energy sector puts the country in a better position to attract private investments.
For his part, Vice President Koung thanked the World Bank Group for its continuous efforts to solve Liberia’s energy crisis and called for immediate interventions to address electricity outages as the dry season approaches.
The Vice President reaffirmed the Government of Liberia commitment to work with the World Bank Group in transforming the lives of the citizens of Liberia.
