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Nigeria: BoI, UNDP sign $2 million agreement on solar energy

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Staff Writer | October 4, 2016
The Bank of Industry (BoI) and the United Nations Development Programme (UNDP) have signed a $2 million-deal on the implementation of solar electrification projects in some select off-grid rural communities in the country.
Nigeria solar
Green energy   For some select communities
The agreement was part of the UNDP/BoI Access to Renewable Energy (AtRE) Scheme, aimed at implementing the second phase of the solar power electrification projects in some select communities.

Six communities, spread across the six geo-political zones where the bank has subsisting relationship for the development of MSMEs, are already benefitting from pilot phase.

The pilot project involved provision of long-term financing for the installation of micro-grid and stand-alone solar solutions in the benefitting states.

Speaking at the signing ceremony in Abuja, the acting Managing Director, BOI, Mr. Waheed Olagunju said the Cost Sharing Agreement would facilitate the replication and scaling up of the solar energy projects in more communities across the country.

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