Addis Ababa — A new World Bank program is set to strengthen and expand the electricity network, improve sector financial viability, and enable renewable energy generation through private sector participation in Ethiopia.
"Transforming the electricity sector in Ethiopia requires a medium-term approach to address interlinked structural and operational challenges and send a strong signal to the private sector. Through this program, the World Bank will partner with Ethiopia over the next 10 years with a financing envelope of up to $1.4 billion, to help the government crowd in other development partners and the private sector," will be implemented over several phases.
The PRIME project will be implemented by Ethiopian Electric Utility and Ethiopia Electric Power, two fully government-owned public enterprises.