The World Bank Board of Directors has approved a $1.6 billion landmark investment programme to bolster regional power system integration, enhance energy security, and advance the transition to a more affordable, sustainable, and lower carbon power sector in West Africa.
Out of the portfolio, Ghana would be allocated $150 million to support the country's energy sector to ensure reliable electricity supply to households in the country, industries and businesses.
The $1.6 billion multiphase West Africa Regional Electricity Market Programme (WA-REMP), supported by the International Development Association (IDA), would address crucial electricity needs for households, industries, and medium-sized companies, as well as regional and national power sector institutions.
This is contained in a press release issued by the World Bank Office Washington in Accra last Friday and confirmed by the External Affairs Officer, Ghana and in charge of West and Central Africa, Kennedy Fosu, in an interview with The Ghanaian Times in Accra yesterday.
