Haiti: WB Approves US$5 Million Grant for Electricity Services

Published: 9 September 2009 y., Wednesday

Pasaulio bankas
The World Bank’s Board of Directors today approved a US$5 million grant to improve the quality of electricity services in Haiti and strengthen the financial and operational performance of Electricité d’Haïti (EDH), the public electricity utility. 

The additional financing will support the objectives of the Electricity Loss Reduction Project, originally supported by a US$6 million World Bank grant approved in August 2006, which sought to lay the foundation for improving electricity services and enhancing revenue collection in urban centers.

“This project will contribute to providing better and more reliable electricity services to Haitian communities,” said Eustache Ouayoro, World Bank Country Manager for Haiti. “In addition, it will finance a program of technical assistance to support the sustainability of the improvements.”

The objective of the additional financing is threefold:

 Improve the management of the utility by providing a two-year program of technical assistance to EDH;

Finance cost overruns for the commercial, technical management and remote metering systems procured under the original project, and  

Help strengthen the capacity of the Ministry of Public Works to oversee the energy sector and cover additional project management costs.  

The Bank’s grant financing is an integral part of a multi-donor coordinated strategy of support to the energy sector.

This project was made possible by an International Development Association (IDA)-funded grant of US$5 million and a contribution of EDH in the amount of US$830,000.

 

 

Šaltinis: www.worldbank.org
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Financial services: Commission adopts additional legislative proposals to strengthen financial supervision in Europe

The European Commission has adopted additional legislative proposals today to further strengthen financial supervision in Europe. more »

Dealing with derivatives

The EU has announced plans to regulate the market for derivatives – complex financial products that helped trigger the financial crisis. more »

Milk price crisis: Parliament gives go ahead to new measures

New proposals to help EU farmers through the milk price crisis were backed by Parliament on Thursday. more »

JEREMIE & JESSICA: Innovative financial instruments help regions and cities to overcome their investment needs

The European Commission and the European Investment Bank (EIB) Group are organising a conference in Brussels on 22 and 23 October to further promote two initiatives designed to increase the use of financial engineering instruments in the framework of cohesion policy. more »

Construction of Finnfoam’s thermal insulation production plant started

The biggest thermal insulation production manufacturer in Finland “Finnfoam” has started the construction of a thermal insulation production plant in Kaunas FEZ. more »

EIB supports Hungary with EUR 350 million

The European Investment Bank (EIB) is providing two loans in Hungary. more »

European Commission, International Financial Institutions and EU Member States agree Western Balkans Investment Framework

Key Western Balkan projects to benefit from new funding EU, IFI financing to focus on infrastructure, SMEs and energy efficiency. more »

Lithuania, Belarus and China will develop East-West transport corridor

Lithuania, Belarus and China will cooperate in the development of the initiative of the East-West transport corridor. more »

Bank SNORAS will provide preferential credits to farmers and agricultural companies

On October this year AB Bank SNORAS will provide preferential UAB “Guarantee Fund of Agricultural Loans ” purpose loans to farmers and companies, which scope of activity is economic activity and processing of agricultural production. more »

Car workers in Austria to get help from EU Globalisation Fund

The European Commission has today approved an application from Austria for assistance under the European Globalisation Adjustment Fund (EGF). more »