ADVERTISEMENT

AfDB set to co-fund $900m Mauritania-Mali power line project

Mauritania’s Minister of Economy and Sustainable Development noted that the strategic nature of the project would have a strong transformative effect on the economy.

AfDB set to co-fund $900m Mauritania-Mali power line project

The Bank, in a statement on its website, made the commitment with the partners at a roundtable in the Mauritanian capital, Nouakchott. It said the discussions explored funding options for the project, which also entailed developing solar power stations.

It said: “AfDB has worked closely with both countries to prepare the project, and affirmed its interest in co-funding.

“The project aligns with the Bank’s Desert-to-Power initiative, which is set to become the world’s largest area of solar power generation.

ADVERTISEMENT

“The initiative will increase solar production capacity by 100M. It will also strengthen and extend distribution networks covering nearly 1,500 km of high-voltage (225 kV) lines.”

Mauritania’s Minister of Economy and Sustainable Development, Abdessalam Saleh, said the strategic nature of the project would have a strong transformative effect on the economy. Saleh said it would also create a connection to the Senegal River Basin Development Organisation’s grid.

The project constitutes an essential link in the regional electricity distribution system known as the “trans-Sahel spine,” which is currently being studied.

“ It will link Mauritania to Chad, passing through three other landlocked countries; Burkina Faso, Niger and Mali.

“ The 225 kV line will connect new renewable energy parks to the sub-region’s power grid “Saleh added.

ADVERTISEMENT

The AfDB’s Deputy Director-General for North Africa, Malinne Blomberg, said the project would turn AfDB’s policy of supporting the development of green infrastructure in Africa into a reality.

Bloomberg, which is also Country Manager for Mauritania, said it would also promote green, inclusive, sustainable growth, which would significantly improve the living conditions of people in Africa.

She said: “We firmly believe that this project will have a transformative effect on promoting both the private sector and trade and, consequently, create job opportunities.”

Daniel Schroth, AfDB’s Director for Renewable Energy and Energy Efficiency, said this regional project was a flagship for the sub-region’s energy transition. He lauded the close cooperation between Mauritania and Mali, as well as technical and financial partners in preparing the project.

The News Agency of Nigeria (NAN) reports that AfDB has operated in Mauritania for over 50 years in various strategic development areas. These include agriculture, governance, water and sanitation, mining, private sector, transport and social issues, with an active portfolio of more than 140 million dollars.

ADVERTISEMENT

The Bank Group is also active in several economic sectors in Mali, namely transport, agriculture, energy, water and sanitation, finance, governance, and climate change. Its current portfolio in the country totals about 723 million dollars.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Top 10 most rewarding African countries to do business in 2023

Top 10 most rewarding African countries to do business in 2023

Veritasi Homes celebrates redemption of ₦3.474bn series 4 Commercial Paper

Veritasi Homes celebrates redemption of ₦3.474bn series 4 Commercial Paper

TikTok issues new guidelines to users for AI-generated content

TikTok issues new guidelines to users for AI-generated content

Celebrating Dimas's Experience: One Stage, One Mic, One Gender

Celebrating Dimas's Experience: One Stage, One Mic, One Gender

How expert-selected casino sites reward players with bonuses

How expert-selected casino sites reward players with bonuses

Top 5 best-performing sectors in Nigeria outside of oil

Top 5 best-performing sectors in Nigeria outside of oil

Xiaomi launches its new flagship Smartphone Xiaomi 13T in Nigeria

Xiaomi launches its new flagship Smartphone Xiaomi 13T in Nigeria

Nigeria’s forex market needs restructuring - Tinubu’s aide

Nigeria’s forex market needs restructuring - Tinubu’s aide

Mike Adenuga-led Conoil rewards shareholders with N1.73 billion dividend

Mike Adenuga-led Conoil rewards shareholders with N1.73 billion dividend

ADVERTISEMENT
ADVERTISEMENT