Sierra Leone: DFC, Sierra Leone Promote Access to Reliable Energy With Up to $412 Million in Additional Financing and Political Risk InsuranceDCEO Nisha Biswal and CM @dsengeh announce approval of a $292M DFC loan for Sierra Leone, backed by $120M in political risk insurance, for a power project that will provide access to reliable power amid rolling blackouts
DFC approved a new loan of up to $292 million to the Freetown-based Western Area Power Generation Project to help develop and upgrade the power plant's infrastructure, promoting reliable access to power throughout Sierra Leone. DFC will also provide up to $120 million in political risk insurance to crowd-in private investment. The financing package is bolstered by a $40 million loan from ECOWAS Bank for Investment and Development ..
"The unwavering commitment shown by DFC and EBID to ensure that this transformational project is realized will improve the lives of millions of Sierra Leoneans," said."Milele Energy is dedicated to unlocking some of Africa's most critical energy projects and we applaud the Government of Sierra Leone to conclude this project that will lower cost, improve reliability, and allow for the expansion of industrial demand.
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