The World Bank is trying to rope in the private sector by providing financing for off-grid solar under the Yemen Emergency Electricity Access Project. This would help create jobs in the war-torn country and help people to get access to affordable and clean energy. (Photo Credit: Bill Lyons/World Bank)
- World Bank Group has announced a project to support off-grid solar systems in Yemen
- It will use a $50 million grant by IDA to back Yemen Emergency Electricity Access Project
- The project aims to provide clean energy to 1.4 million people in rural and peri-urban areas of the country
- With this project, the bank is looking to also fund solar power for critical infrastructure and encourage private sector participation
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There is new hope regarding energy supply for war-torn Yemen, with World Bank Group having announced a new project to finance off-grid solar systems in the Arabic nation. The $50 million grant will be solely used for Yemen Emergency Electricity Access Project. The project is funded by the International Development Association (IDA), part of the World Bank Group.
With this project that will work with the current solar supply chain and existing network of micro-finance institutions, the World Bank aims to restore or improve access to electricity for rural and peri-urban areas with a targeted 1.4 million people. It will also fund solar power for critical infrastructure as hospitals, schools, water corporations and rural electricity providers. The project will be implemented together with the United Nations Office for Project Services (UNOPS).
“While responding to immediate need, the project will contribute to building a more inclusive and sustainable solar market in Yemen through targeted financing to the private sector which will expand its reach to the poor and vulnerable,” said Asad Alam. World Bank Group Country Director for Yemen, Egypt and Djibouti.
The Yemen Emergency Electricity Access Project has three components: Financing for off-grid solar, along with implementation support and market development, and a contingent emergency response component.
According to the Regional Center for Renewable Energy and Energy Efficiency (RCREEE), an intergovernmental organization with diplomatic status in the Arab region, Yemen aims to achieve 15% share of renewable energy in the total energy mix by 2025.