World Bank to back geothermal project in Africa's Djibouti - report

Apr 16, 2013 - The World Bank will provide financial assistance to a geothermal project in the Republic of Djibouti, eastern Africa, local news source AllAfrica Global Media said Monday.

According to the report, Djiboutian Minister of Energy Ali Yacoub Mahamoud and officials from the World Bank have met on Sunday to conclude negotiations regarding a loan for geothermal energy exploration in the Assal Rift Valley. Funds will be provided by the World Bank’s International Development Association (IDA), the Energy Sector Management Assistance Programme and the Global Environment Facility, AllAfrica said.

Initial talks between the parties took place in mid-March to discuss documentation and legal aspects of the geothermal energy development.

Choose your newsletter by Renewables Now. Join for free!