World Bank funds to help provide green power to Vanuatu residents

The World Bank on Wednesday approved USD 4 million (EUR 3.6m) to help provide electricity to 45,000 people in the Pacific island nation of Vanuatu.

The project, the second phase of the Vanuatu Rural Electrification Project, will see almost 9,000 homes and 37 public buildings benefit from renewable energy supply. It will partially subsidise the cost of solar home systems and micro-grid systems for 8,400 homes in dispersed areas of Vanuatu and will also support the construction of five mini grid systems in larger communities, benefitting another 550 households.

The World Bank's support comes from its International Development Association (IDA) fund and consists of a USD-2-million credit and a USD-2-million grant. The project will be co-funded with a USD-6.77-million grant from the Climate Investment Funds' Scaling Up Renewable Energy Programme and USD 3.4 million from the New Zealand government.

The initiative is in support of Vanuatu's goal of universal energy access by 2030.

(USD 1 = EUR 0.892)

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