New grant and loan funding from the European Union (EU) and the European Investment Bank (EIB) is expected to improve access to clean and affordable energy to West Africans in Guinea and Mali.
Representatives from the EU, the EIB and the Guinean government signed a contract for the provision of $399.2 million, which will be used to implement a project designed to provide millions of people in Guinea and Mali with clean and affordable electricity.
As part of $362.9 million total EIB support for the Guinea-Mali interconnector project, a $205.7 million 25-year loan will be used for the construction of the 225kV Linsan-Fomi energy transmission line.
The EU will provide green funding through a $36.3 million grant to support the project.
Veronic Njie reports.