The AfDB Approves a USD 3 million Loan for Comoros To Support the Energy Sector and Financial Governance
The Board of Directors of the African Development Bank (AfDB) granted, on December 19th 2012, a loan in the amount of USD 3 million to Comoros to support the energy sector reforms, particularly, the electricity sub-sector and financial governance.
The programme will help to create the conditions for an inclusive and sustainable growth through the development of the energy sector, whose shortcomings are part of the major constraints to the diversification of the country’s economy, and thereby make way for a gradual change from a fragile situation .
The object of the reforms are first and foremost to rebuild and strengthen governance and energy sector performance to make it more efficient and able to support the country’s economic development, and secondly to encourage the State consolidate and deepen public finance management reforms .
The Government’s capacity and efficiency to provide better and essential basic services for the populations and economic operators, especially in the energy sector will thus be strengthened and will go to reduce lasting poverty as well as improve the living conditions of the populations.