"World Bank to provide $750 million for clean energy projects in Nigeria"

" World Bank to provide $750 million for clean energy projects in Nigeria \r\n\r\nThe\u00a0World Bank\u2019s\u00a0fund for poor countries plans to provide a credit of US$750 million for\u00a0clean energy\u00a0projects in Nigeria to increase to electricity in Africa\u2019s most populous nation, the International Development Association said on Friday.\r\n\r\nThe bank said that more than 85 million people lacked access to electricity in\u00a0Nigeria\u00a0as of 2021, with households and businesses reliant on expensive diesel and petrol generators.\r\n \r\n It said the Distributed Access through Renewable Energy Scale-up (DARES) project will be financed by the International Development Association credit and provide access to new or improved electricity supplies to more than 17.5 million Nigerians. \r\n \r\n\u201cTo further address the access gap, DARES will build on the achievements of the World Bank-financed Nigeria Electrification Project, which has supported the establishment of 125 mini grids and the sale of over a million Solar Home Systems, through which more than 5.5 million Nigerians have gained access to electricity,\u201d the World Bank said.\r\n\r\nIt added that the project will leverage parallel financing of $100 million from the Global Energy Alliance for People and Planet and $200 million from Japan\u2019s International Cooperation Agency in addition to over $1 billion of private capital."

"World Bank to provide $750 million for clean energy projects in Nigeria"

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