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Add to Preferred SourcesWorld Bank Group Boards of Executive Directors approved a financing package of $98.8 million consisting of guarantees, a loan, and swaps to support two gas-to-power energy projects in Afghanistan.
The projects aim to increase the amount of domestically generated electricity while leveraging private financing for the country’s energy sector.
The financing package supporting the Sheberghan-Gas-to-Power Project entails a $12.8 million guarantee from the International Development Association (IDA), the World Bank Group’s fund for poorest countries.
The financing package supporting the Mazar-e-Sharif Gas-to-Power Project includes a $129.8 million.
“Afghanistan’s energy needs are enormous, and the new package will support a great step forward for the country’s development. Investing in the energy sector is key for the country to achieve its full growth potential,” said Henry Kerali, World Bank Country Director for Afghanistan.
Both projects will further help catalyze the development of the country’s gas sector.
Original source: World Bank
Published on 10 October 2019