$500M world Bank electricity fund: SERAP flays approval, calls for publication of documents

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SERAP

By Olasunkanmi Akoni

Socio-Economic Rights and Accountability Project, SERAP, has urged the World Bank to release archival records and documents relating to spending on all approved funds to improve access to electricity in Nigeria between 1999 and 2020.

It also demanded it to show the bank’s role in the implementation of any funded electricity projects, identify and name any executed projects, and Nigerian officials, ministries, departments and agencies involved in the execution of such projects.

The World Bank Board of Directors had last week approved $500 million to help boost access to electricity in Nigeria and improve the performance of the electricity distribution companies in the country.

In the application to World Bank President Mr David Malpass, dated February 6, 2021, signed by SERAP Deputy Director, Kolawole Oluwadare, the organization urged the Bank to explain the rationale for the approval of $500m to implement electricity projects in the country, despite…



Source: Vanguard Newspaper