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Ethiopia to benefit as World Bank approves $300m rehabilitation funds for the country

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The World Bank has announced the approval of a whopping $300 million as rehabilitation funds for Ethiopia.

The newly approved funds, according to the global banking institution in a statement on Wednesday, will be used to rehabilitate those affected by conflict and its consequences in various parts of the East African country.

“Conflicts in Ethiopia have resulted in loss of lives, humanitarian crises, destruction of private and public assets and have left communities in dire need of support.

“The conflicts have also caused the displacement of thousands of people throughout Ethiopia and have further exacerbated the incidence of gender-based violence, particularly against women and girls,” World Bank statement said.

The World Bank also pointed out that the new funds will “support efforts to address the immediate needs of communities, rehabilitate infrastructure destroyed by conflict and increase community resilience to the impacts of conflict in a sustainable manner.:

“The $300 million will cover the needs of at-risk people in Afar, Amhara, Benishangul-Gumuz, Oromia and Tigray regional states, which host a large number of internally displaced people,” the statement added.

The World Bank’s deal with Ethiopia is the second if such to be entered with an African country this week following deals it signed with Senegal on Tuesday to finance four key projects worth a total of $495 million.

The Senegal deals, according to the global bank, will help improve education, electricity, economic development and road access to rural areas in the country which is undergoing an economic downturn.

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Mozambique President Filipe Nyusi, TotalEnergies, discuss over gas project

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Discussion on the humanitarian situation in the Cabo Delgado area in Mozambique is ongoing between The head of TotalEnergies and Mozambique President Filipe Nyusi.

TotalEnergies’ chairman and chief executive Patrick Pouyanne had visited the Cabo Delgado area to review the security and humanitarian situation, and Pouyanne had met the Mozambique President during his trip.

The multinational revealed that it has engaged Jean-Christophe Rufin, whom it said was an expert in humanitarian action and human rights, with an independent mission to assess the humanitarian situation in Cabo Delgado province.

Pouyanné said, “since 2021, the situation in Cabo Delgado province has improved significantly, thanks in particular to the support provided by the African countries that committed themselves to restore peace and security.”

“The mission entrusted to Jean-Christophe Rufin should enable Mozambique LNG’s partners to assess whether the current situation allows for a resumption of activities while respecting human rights,” he added.

A force majeure’ was declared in 2021 on TotalEnergies’ Mozambique LNG project, valued at $20 billion, due to regional unrest after an insurgent group linked to Islamic State attacked the northern town of Palma.

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Sierra Leone, Liberia, 2 others, receive $311 million from World Bank for renewables

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Four West and Central African countries are set to receive aid worth $311 million from the World Bank after signing an agreement that would improve renewable energy projects.

The countries, Sierra Leone, Liberia, Togo, and Chad will receive funds will finance around 106 megawatts (MW) of solar power generation capacity with battery energy and storage systems, and a 41 MW expansion of hydroelectric capacity.

Commenting on the development, Sierra Leone President Julius Maada Bio, who presided over the signing ceremony on Wednesday, said the deal was the beginning of a revolution in energy supply and access in the respective countries.

“We are paying far more for energy now than we were 18 months ago. Very high and rising energy prices continue to have an adverse impact on other sectors of our economies,” Maada Bio said.

The World Bank’s Director for Regional Integration, Boutheina Guermazi said the project was the first time four countries had been brought together for a regional energy approach.

“It is a continental approach to make sure that we reach universal access to clean affordable energy by 2030,” Guermazi said, adding that the project would be completed in four years.

The West and Central sub-regions of Africa have one of the lowest electrification rates coupled with some of the highest electricity costs in Sub-Saharan Africa.

Under a new World Bank Regional Emergency Solar Power Intervention Project, the West Africa Power Pool, a regional approach to improve electricity in the sub-region, will also receive some funds approved in December.

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