$375M electric power deal supports Obama’s Power Africa project
USA, Washington D.C.: The United States and Benin officials have signed the five-year Millennium Challenge Corporation Compact, a $375 million deal to invest in the African country’s electric power sector.
The deal will help fund electricity distribution and off-grid access in Benin, and advance Power Africa’s goals to increase access to affordable electricity, reduce poverty and invest in renewable energy, reports Voice of America.
The deal was signed at the White House in the presence of U.S. Vice President Joe Biden and Benin President Thomas Boni Yayi.
The Millennium Challenge Corporation, a U.S. foreign aid agency, expects 9.8 million people to benefit from the Benin compact over the next 20 years.
Power Africa is a programme that was launched in 2013 by President Barack Obama to double access to electricity in sub-Saharan Africa, where more than 600 million people lack access.
Source: Voice of America