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HomeNewsMauritius gets 50m-euro loan from French Development Agency

Mauritius gets 50m-euro loan from French Development Agency

The French Development Agency (FDA) has approved a loan worth 50 million euros for Mauritius as budget support for the funding of sustainable development projects in the energy sector, PANA reported from the Mauritian capital, Port-Louis, Tuesday.

According to the agreement reached between the two parties, the loan will be disbursed in two tranches of 20 million euros in 2013 and 30 million euros in 2014 to fund concrete and innovative energy efficiency projects.

It will further support the Environment Aid Programme (APE), a support programme to a project initiated in 2009 that focuses on energy, transport, town and country planning, biodiversity and adaptation to climate change.

The loan will also be used to support Mauritius’ efforts to diversify the energy sector and to develop and promote energy regulation projects as well as renewable energy that will impact positively on the environment, the economy and the well-being of residents.

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