Liberia has received a $50-million endorsement from the Climate Investment Funds (CIF) Scale up Renewable Energy in Low Income Countries (SREP) programme to support its far-reaching renewable-energy investment plan, the African Development Bank (AfDB) announced on Tuesday.
The AfDB backed Liberia for this investment, which would be used to bolster the country’s intention of reaching a 35% electrification rate by 2030, as opposed to the current rate of 2%.
The country’s renewable-energy investment plan would help increase energy access through offgrid electricity schemes based on small hydro, solar photovoltaic, biomass and hybrid systems.
“We are very pleased to support Liberia as it takes this transformational step. Countries like Liberia face an enormous double-edged challenge of building badly needed access to energy, while at the same time applying the relevant climate-friendly solutions,” AfDB task manager for the preparation of the Liberia plan Florence Richard-Quintanilha said.
