African Development Bank provides additional financing to Comoros for the energy sector

Signature ceremony for the Energy Sector Support Project agreement between the AfDB and the Comores, in presence of Said Chayanne, Minister of Finance of Comores and Nwabufo Nnenna, Deputy Director General RDGE, during day 3 of the AfDB Annual Meetings on 13 June 2019 in Malabo, Equatorial Guinea. (Photo by Juliette Avice)

The Bank’s support to the Comoros Energy Sector Support Project is in line with the priorities set out in the Comoros Country Strategy Paper

The Deputy Director General of the Bank for East Africa, Nwabufo Nnenna, and the Comoros Minister of Finance and Budget, Saïd-Ali-Saïd Chayhane, signed on Thursday, an additional financing agreement of 8, 63 million euros on the sidelines of the Bank’s Annual Meetings in Malabo, Equatorial Guinea.

With this funding from the Bank, the Government of Comoros will be able to continue its energy sector reforms, initiated in 2014, under the Energy Sector Support Project (PASEC).

« We want to commend the Bank’s efforts for the development of our country. This additional financing for the energy sector will enable our country to solve the related difficulties in this area, « said Said-Ali-Said.

Nwabufo Nnenna assured the Comorian Minister of the Bank’s availability to « always accompany the Union of the Comoros » and promised that « every effort will be made to ensure the success of all projects ».

« This year, we are preparing three projects for the Comoros, including one in the road sector and another for support to the general administration of the country. We hope, by the end of 2019, to launch the project for the special support fund. Discussions will soon begin to finalize all these projects, « said the Bank’s executive.

The Bank’s support to the Comoros Energy Sector Support Project is in line with the priorities set out in the Comoros Country Strategy Paper, the New Africa Energy Compact and the Strategy. accelerated growth and sustainable development of the Comoros (SCA2D) for the period 2018-2021.

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