CFAF 60bn fund available for Ivory Coast’s Electricity for All Program

In Côte d’Ivoire, the government has created a Fund for the Electricity for All Program (PEPT Fund), with a budget of 60 billion CFA francs (over $ 101 million).

It will be financed up to 50 billion CFA francs by the World Bank, the European Union, the French Development Agency, the African Development Bank and 10 billion CFA francs by the Ivorian State.

The purpose of this instrument is to facilitate financial mobilization for the benefit of PEPT. “It’s a program that’s eminently social. It allows households to have access to electricity at home, not to mention the positive impacts for young people in terms of education, jobs and economic activities, ” said Abdourahmane Cissé, Minister of Petroleum, Energy and Renewable Energies.

The program allows beneficiary populations to pay only 1,000 francs for the electricity connection instead of the usual 150,000 francs. “The remainder will be deducted from them for up to ten years. To benefit, you must subscribe to the social rate of 5 amps. The program also reduces the price of a kilowatt-hour by 20% for these subscribers, ” the minister said.

 

Source: Agence Ecofin

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