The board of the multilateral development finance institution has approved a $20 million facility to back the deployment of renewables-based minigrid projects in the Democratic Republic of Congo.

Upon completion, minigrid systems ranging in size from 3 MW to 10 MW will help to provide electricity to 21,200 homes, as well as 2,100 buildings and small- and medium-sized enterprises. In an online statement, the bank said that it expects these projects to provide benefits to at least 150,000 people.

The African Development Bank wishes to categorically refute the statement that it has “called off loans to Nigeria”, as reported in Reuters and credited to AfDB Vice-President for Power, Energy, Climate and Green Growth Amadou Hott.

The African Development Bank is highly encouraged by the economic recovery of Nigeria from recession and salutes the Government’s efforts towards diversification of the economy. The Bank also strongly supports the Economic and Growth Recovery Plan of the Government and efforts to stem corruption and strengthen fiscal consolidation and efficiency.