The European Investment Bank (EIB) today agreed to provide technical assistance to the West African Power Pool (WAPP), a West African regional institution tasked with creating a fully integrated electricity market in the region. WAPP develops electricity exchanges between ECOWAS countries.

The EIB’s technical assistance grant, consisting of an update study of the power generation and transmission of ECOWAS member states, will allow to coordinate regional electricity projects, supply and demand forecasts and ensure the stability of the planned regional network. The EUR 935,000 grant from the EU-Africa infrastructure fund recognises the crucial role of the power sector in ensuring economic development and strengthens the Bank’s position as a key player in the West African power sector.

Plutarchos Sakellaris, EIB Vice-President responsible for sub-Saharan Africa said: “The European Investment Bank strongly supports the establishment of an integrated regional electricity market between West Africa countries and looks forward to working with the West African Power Pool to make this a reality and enable access to affordable energy for all.”

The Technical Assistance agreement was signed today at the European Investment Bank’s headquarters in Luxembourg by EIB Vice-President Sakellaris, Mr. A. Diallo, Secretary-General of the West African Power Pool. The presence of Liberian Minister for Lands, Mines and Energy Hon. Eugene Shannon demonstrated the support of West African countries for this initiative. Representatives of the World Bank and European Commission also witnessed the signing ceremony.

Notes for Editors:

  • The European Investment Bank (EIB) is the long-term lending bank of the European Union. The EIB is active in Africa, the Caribbean and the Pacific (ACP) under the Cotonou partnership agreement.
  • The European Investment Bank has already assisted WAPP to prepare investment evaluations for priority regional electricity interconnections (Ghana-Burkina Faso – Mali, Cote d’Ivoire – Liberia – Sierra Leone – Guinea, and Cote d’Ivoire Ghana).