Luanda - The World Bank (WB) has approved USD 250 million funding to improve the operational performance of companies in the electricity sector and increase access to electricity in selected cities in Angola.
The total cost of the project is US$417 million, funded with a loan of US$250 million from the World Bank and a credit of US$167 million from the "Agence Française de Développement," indicates a document from the Bretton Woods institution, ANGOP understands Monday.
The Project for Improvement and Access to the Electrical Sector will fund investments in electrification in the provinces of Luanda, Benguela, Huíla and Huambo, making 196,500 new home connections, to benefit around 1 million people and 93,857 lampposts.
According to the document, the project will focus on expanding access to electricity and improving revenue collection, improving energy services and the capacity of PRODEL (Public Power Generation Company) and boosting sustainable management of thermal power plants.
The project also aims to increase the commercial performance of the National Electricity Distribution Company (ENDE), as well as finance the National Transmission Network (RNT) for targeted interventions to improve and optimise the electricity supply and overall management of the national transmission grid.
