Thursday, April 18, 2024
38.2 C
City of Banjul
HomeGambia NewsGAMBIA: ELECTRICITY REHABILITATION & EXPANSION PROJECT FOR GAMBIA

GAMBIA: ELECTRICITY REHABILITATION & EXPANSION PROJECT FOR GAMBIA

Donate to Freedom Radio Today

The Government of The Gambia has announced that the Board of Directors of the African Development Fund (ADF) has approved the Gambia Electricity System Rehabilitation and Expansion Project (GESREP). The project, which is valued at $20.4 million, will finance the rehabilitation and expansion of The Gambia’s electricity system.

“In a letter to the Honourable Minister of Finance and Economic Affairs, the Board of Directors of the African Development Fund on 14th July 2023, approved the “Gambia Electricity System Rehabilitation and Expansion Project (GESREP),” the government announced.

The government said the project is expected to help achieve its goal of increasing electricity access by providing reliable electricity and strengthening the institutional systems of the National Water and Electricity Company (NAWEC).

“The specific objectives include: (i) providing consumers with reliable low-carbon electricity; (ii) increasing NAWEC’s billing and revenue collection capacity; (ii) supporting institutional strengthening; and (iv) ensuring effective operations and maintenance of electrical facilities,” they said.

In the released statement, the government disclosed that the African Development Bank (AfDB) has approved a grant of 15 million UA (approximately 20.4 million USD) to the Government of the Gambia. The grant will be divided into two parts: 10 million UAfrom the ADF-16 grant and 5 million UA from the TSF-Pillar I grant. The funds will be used to implement the rehabilitation and expansion project.

The government also said the Protocols of Agreement for both ADF and TSF Pillar I was negotiated and initiated by the Gambian authority and the Bank on 26th June 2023.

“Furthermore, the Protocol of Agreements shall enter into force on the date of signature by the Recipient (The Government) and the Fund. In addition to the entry into force of the Protocols of Agreement for both Grants, the first disbursement under ADF, as well as under TSF Pillar I resources, shall be subject to the satisfaction of the conditions below:

“The execution and delivery of a Subsidiary Agreement between the Implementing Agency and the Recipient in form and substance satisfactory to the Fund; and the execution and delivery of a Project Agreement between the Fund and the Recipient in form and substance satisfactory to the Fund,” the government announced.

Latest articles

GAMBIA: ABDOULIE JAWO REACTS TO THE OVER D 40 MILLION GOVERNMENT BRIBERY SELECTIVE MEDIA PLATFORMS

Domination through the Military under Jammeh to Domination through the Treasury under Barrow* It is...

GAMBIA: 7 MEDIA HOUSES CONTRACTED ABOUT D40 MILLION TO PROMOTE GOVERNMENT AGENDA

An amount of 40 Million Dalasis has been approved by the government for the...

GAMBIA: IS THE PROPOSED COALITION 2026 POSSIBLE?

The Gambia, without doubt, is in an awful, increasingly frightening mess because of the...

GAMBIA: SHOULD GAMBIA FERRY SERVICES PARTNER WITH DAMEN SHIPYARD?

According to Dutch news sources, the detection department of the Dutch Tax Administration raided...

More like this

GAMBIA: ABDOULIE JAWO REACTS TO THE OVER D 40 MILLION GOVERNMENT BRIBERY SELECTIVE MEDIA PLATFORMS

Domination through the Military under Jammeh to Domination through the Treasury under Barrow* It is...

GAMBIA: 7 MEDIA HOUSES CONTRACTED ABOUT D40 MILLION TO PROMOTE GOVERNMENT AGENDA

An amount of 40 Million Dalasis has been approved by the government for the...

GAMBIA: IS THE PROPOSED COALITION 2026 POSSIBLE?

The Gambia, without doubt, is in an awful, increasingly frightening mess because of the...