Liberia in West Africa is the target of a $64m investment from the European Investment Bank (EIB).
The bank wants to allocate the funding to develop the 64 MW Mount Coffee hydropower project, which is expected to cost $233m in total if approved later this month.
Liberia Vice President Pim Ballekom told Bloomberg that the financing is part of the bank’s several loans to sub- Saharan Africa, totalling nearly $1.3bn.
“The project is identified as being a very important element in regional integration, and supporting a post-conflict country,” van added Ballekom.
According to the finance ministry, only 23 MW of electricity is currently being produced in Liberia.
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