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Nairaland Forum / Nairaland / General / Politics / FG Secures $750m World Bank's Loan To Improve Power Supply In Nigeria (133 Views)
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FG Secures $750m World Bank's Loan To Improve Power Supply In Nigeria by coputa(m): 3:15pm On Apr 12 |
Latest Nigeria News | Top Stories from Ripples Nigeria The Federal Government has secured a $750 million loan from the World Bank to provide subsidy to developers and operators of solar mini-grids in the country. The Minister of Finance, Wale Edun, and World Bank’s Country Director for Nigeria, Shubham Chaudhuri, signed the loan agreement on March 31 and February 19 respectively. The loan, according to a document made available to journalists on Thursday, is aimed at augmenting the supply of electricity to both households and micro, small, and medium-sized enterprises (MSMEs) through a surge in private sector-led distributed renewable energy initiatives. It read: “The loan will be partly used to provide support to the development and operation of privately owned and operated solar hybrid mini grids in unserved and underserved areas through: 1.1. Minimum Subsidy Tender Carrying out of Minimum Subsidy Tender processes and provision of Minimum Capital Cost Subsidies to selected developers/operators of (a) Isolated mini- grids; (b) Interconnected mini-grids; or (c) Solar rooftop solutions in Participating States.” Aside from providing the subsidy, the federal government plans to also provide performance-based grants. “There will be a provision of Performance-Based Grants to eligible mini-grid operators based on new customer connections for isolated mini-grids and percentage of capital expenditures for interconnected mini-grid projects. “The grant will also cover Standalone Solar (SAS) Systems for Households, MSMEs, and Agribusinesses. This grant will provide “Support to the expansion of SAS systems for households, MSMEs, and agribusinesses in rural areas through: 2.1. Performance Based Grants for Standalone Solar Provision of Performance Based Grants (“PBGs”) to eligible companies to rapidly deploy SAS solutions in rural and underserved areas, through supply and demand side support and based on independently verified outputs, and to support deployment of solar productive use of electricity (PUE) equipment to MSMEs, agribusinesses and commercial customers.” Copyright © 2021 Ripples Nigeria. All rights reserved. |
Re: FG Secures $750m World Bank's Loan To Improve Power Supply In Nigeria by jkpbestseries: 3:17pm On Apr 12 |
Money Missed Road 1 Like |
Re: FG Secures $750m World Bank's Loan To Improve Power Supply In Nigeria by TemplarLandry: 3:19pm On Apr 12 |
Re: FG Secures $750m World Bank's Loan To Improve Power Supply In Nigeria by Debater(m): 3:27pm On Apr 12 |
I laugh in Nigerian. Keep deceiving yourselves. |
Re: FG Secures $750m World Bank's Loan To Improve Power Supply In Nigeria by slivertongue: 3:37pm On Apr 12 |
funds that are likely to be looted |
Re: FG Secures $750m World Bank's Loan To Improve Power Supply In Nigeria by PlasmaTV: 3:39pm On Apr 12 |
Yinmu. Big yinmu. Same old story, same old results. 1 Like |
Re: FG Secures $750m World Bank's Loan To Improve Power Supply In Nigeria by fuckingAyaya(m): 3:40pm On Apr 12 |
Nigeria is a crime scene 3 Likes |
Re: FG Secures $750m World Bank's Loan To Improve Power Supply In Nigeria by blacknp(m): 4:06pm On Apr 12 |
fuckingAyaya:Like your house, forensics is on its way. |
Re: FG Secures $750m World Bank's Loan To Improve Power Supply In Nigeria by Faiththatworks(m): 4:07pm On Apr 12 |
Hi |
Re: FG Secures $750m World Bank's Loan To Improve Power Supply In Nigeria by omowolewa: 5:01pm On Apr 12 |
Okay, more loans to your portfolio |
Re: FG Secures $750m World Bank's Loan To Improve Power Supply In Nigeria by Forkthiefnubu: 6:20pm On Apr 12 |
jkpbestseries:Enter thiefinubu pocket with his APC jiahdist gang |
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