France Supports Nigeria’s Power Sector with $170m Grant
France has granted $170 million aimed at increasing the power supply for the Federal Capital Territory (FCT) and also plans to provide support for other power projects.
The French Ambassador to Nigeria, Mr Denys Gauer, represented by Mr Georges Vanin, First Counsellor, Political Affairs and Communication, Embassy of France, said the power sector was one of the three priority sectors identified by the French Development Agency (AFD) in its 2014-2016 strategy in Nigeria.
He said; “The AFD is willing to improve the efficiency of the private supply networks through a 150 million U.S. Dollars soft credit facility granted to two local banks. “The credit facility is under final assessment by AFD for funding Distribution Companies investments.”
According to him, in addition, AFD is working on another 150 million dollars credit facility to support the private sector initiatives in favour of clean and renewable energy. He also added that the AFD was willing to support the reform of vocational training in the power sector through financing the National Power Training Institute of Nigeria (NAPTIN).