20 December 2012
Content from our Premium Partner

African Development Bank (Abidjan)

The AfDB Approves a Usd 3 Million Loan to Support the Energy Sector and Financial Governance

press release

The Board of Directors of the African Development Bank (AfDB) granted, on December 19th 2012, a loan in the amount of USD 3 million to Comoros to support the energy sector reforms, particularly, the electricity sub-sector and financial governance.

The programme will help to create the conditions for an inclusive and sustainable growth through the development of the energy sector, whose shortcomings are part of the major constraints to the diversification of the country's economy, and thereby make way for a gradual change from a fragile situation .

The object of the reforms are first and foremost to rebuild and strengthen governance and energy sector performance to make it more efficient and able to support the country's economic development, and secondly to encourage the State consolidate and deepen public finance management reforms .

The Government's capacity and efficiency to provide better and essential basic services for the populations and economic operators, especially in the energy sector will thus be strengthened and will go to reduce lasting poverty as well as improve the living conditions of the populations.

Copyright © 2012 African Development Bank. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.