Djibouti:

World Bank Approves Funding of Djibouti’s Geothermal Exploration (World Bank - News Release)

(Courtesy CIA.gov)

A project to tap into Djibouti’s volcanic riches as a source of geothermal power has the potential to reduce energy costs for the small African country and boost access to electricity for all citizens.

A US$6 million contribution to the geothermal power generation project was approved by the World Bank Board of Directors today. It will support Djibouti in assessing the commercial viability of the geothermal resource in the Fiale Caldera within the Lake Assal region. Project Webpage.

The World Bank has mobilized different donors to co-finance the total project costs of US$31 million including Global Environment Facility (GEF), OPEC Fund for International Development (OFID), African Development Bank (AfDB), Agence Française de Développement (AFD) and the Global Geothermal Development Plan (GGDP) through Energy Sector Management Assistance Program (ESMAP). The Government of Djibouti will also make a contribution.

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