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Abu Dhabi Fund for Development inks three loan agreements worth USD 33m with African Nations

Renewable energy projects located in Togo, Niger, and Liberia; Ventures set to benefit approximately 750,000 households in West Africa

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February 25 2020
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Abu Dhabi Fund for Development (ADFD) formalised three loan agreements valued at USD 33 million (AED121 million) with the Governments of Togo, Niger and Liberia. The agreements were signed in Abu Dhabi during the 10th Session of the International Renewable Energy Agency (IRENA) Assembly. His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, signed the three loan agreements detailing the funding terms with HE Sani Yaya, Togolese Minister of Economy and Finance, HE Agada Garba, Ambassador of Niger to the UAE, and HE Samuele Lande, Consul General of Liberia to the UAE.

The capital is to be channelled into three renewable energy projects in the West African nations within the framework of the IRENA/ ADFD Project Facility. USD10 million (AED37 million) has been allocated for the 2.1 MW solar rural electrification project that will benefit 100 villages in Niger. A second allocation of USD8 million (AED29 million) is to finance the 2.1 MW River Gee mini-hydro project in Liberia, while US$15 million (AED55 million) has been earmarked for the 30 MW Blitta solar PV project in Togo.

HE Mohammed Saif Al Suwaidi said, “ADFD is delighted to support the Governments of Togo, Niger and Liberia in achieving their national priorities and to advance clean energy alternatives that align with the United Nations’ Sustainable Development Goals.” He added, “Benefiting more than 750,000 households, the three renewable energy ventures will help stimulate long-term economic growth, create job opportunities, enhance climate resilience, and ensure electricity access in small villages located far from centralised power grids.”