Apr 9, 2020, 10:53 AM
The Gambia government has signed with the OPEC Fund for International Development (OFID) an agreement for US$12 million (quivalents to GMD 386.2 million) for financing the Kotu power generation project.
According to a statement from the Ministry of Finance, Hon Abdou Kolley, the minister of Finance and Economic Affairs, signed for The Gambia, and Suleiman J. Al-Herbish the director-general for the OPEC Fund.
In his statement, Minister Kolley welcomed OFID support for the project, which he described as consistent with its development programme.
The project which is for 11MW together with the Islamic Development Bank 2nd phase 20MW engines when installed will increase generation capacity in the Greater Banjul Area, which is currently at 70MW, to 100MW.
This will relieve power outages and the inadequate supply, as well as provide access to un-electrified communities, thus combating poverty, the statement added.
Kolley expressed his confidence that given the goodwill and commitment of the leadership of The Gambia the project will be successfully implemented, and assured the fund’s management of the government’s commitment to the project, and promised to deliver on it as expected.
OPEC Fund Director-General Suleiman J. Al-Herbish said the purchase and commissioning of the 11 MW generator will provide the Gambian population, particularly unconnected communities, with an affordable and consistent supply of electrical power, and that at least 500,000 people will benefit from the upgraded infrastructure.