World Bank helps Brazil strengthen its energy sector
Brazil: The World Bank has approved a $38 M loan to help Brazil modernise and strengthen its energy sector.
The loan will be used to fund the Energy and Mineral Sectors Strengthening Project II (META 2).
Public institutions and sectoral agencies will gain access to technical assistance activities including studies, training, methodologies, databases and IT equipment.
The loan comes at a time Brazil’s energy sector is failing to realise its full development potential and promote environmental sustainability and social inclusion.
Using the loan, Brazil is expected to increase its production of more reliable power, at lower prices.
Brazil’s Ministry of Energy will utilise the loan for:
· Increasing efficiency, long term infrastructure adequacy and climate resilience in the energy and mining sectors
· Institutional strengthening of energy and mining institutions to establish and implement strategies, policies and regulation
· Implementation support, monitoring and evaluation, knowledge sharing and dissemination.
“This project is a continuation of long-term collaboration with the World Bank. This new phase will promote changes to support the sustainable extraction and processing of minerals and metals to meet the needs of the global supply chain for inputs and new technologies. In energy, working together will make it possible to increase the efficiency and resilience of markets in Brazil,” said Bento Costa Lima Leite, Brazil Minister of Mining and Energy.
Source: ESI Africa