Millennium Challenge Corporation's $480M Grant to Electrify Sierra Leone

The Millennium Challenge Corporation has announced a $480-million five-year grant to Sierra Leone. This funding aims to provide reliable and affordable electricity to 4.6 million people, focusing on both urban and rural areas where access is critically low. The initiative includes three projects to enhance the power network's coverage, reliability, and sustainability.

The Millennium Challenge Corporation, a U.S. state development fund, has extended a $480-million five-year grant to Sierra Leone to provide reliable and affordable electricity to 4.6 million people, the fund said. Only about 30% of the West African country's population has access to electricity, dropping to less than 5% of people in rural areas.

The deal includes three projects to improve the coverage and reliability of the power network and boost the sector's sustainability, the fund said in a statement on Friday. In April, Sierra Leone's energy minister resigned over a weeks-long electricity crisis linked to tens of millions of dollars in unpaid debt to energy providers.

This critical investment aims to bring much-needed stability and progress to Sierra Leone's energy sector. The planned projects are expected to make a significant impact, especially in rural areas where the lack of electricity has hindered socioeconomic development.

(With inputs from agencies.)