U.S. EXIM Bank mulls $100m allocation to Senegal’s rural electrification project

The Exim Bank of the United States has made a preliminary commitment worth $ 86 million for Senegal’s rural electrification project. If this commitment is validated by the bank’s board of directors, the bank will allocate approximately $ 100 million to Senelec, the national electricity company, in the form of a loan for the realization of these rural projects.

These funds are intended to support the activities of Weldy-Lamont LLC in Senegal. The company is specialized in the supply of renewable energy equipment.

“This project is win-win for Senegal and the United States of America. It will bring electricity to several Senegalese rural localities while supporting local jobs. When it is finally approved, this EXIM funding will not only support a small US company, but will also create about 500 jobs in the US value chain, “ said Spencer Bachus, a member of the board of directors. the American Exim Bank.

 

Source: Agence Ecofin

Share

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...