The Caribbean Development Bank (CDB) will loan $65m to the government of Suriname, and the government and utility will contribute $33.325 to make upgrades to Suriname’s electricity grid.
The Board of Directors of the Caribbean Development Bank (CDB) approved the loan which will upgrade and expand sections of the country’s transmission, sub-transmission and distribution networks, enabling NV Energie Bedrijven Suriname (EBS), to deliver a more reliable, efficient and sustainable electricity supply.
The electricity system upgrade and expansion project will result in the upgrade of 36.6 kilometres of sub-transmission and distribution lines; the construction of five new substations, the expansion or upgrade of three existing substations; and the installation of three solar photovoltaic plants by 2021.
Daniel Best, director of projects, CDB, noted: “We are committed to working with the Government of Suriname to strengthen and modernise its social and economic infrastructure. The energy sector is a key driver for sustained economic growth and improved long-term competitiveness for Suriname.”