PARAMARIBO, Suriname – The government of Suriname has signed loan agreements amounting to US$ 10 million with the Caribbean Development Fund (CDF) that will go towards electrification projects .
Stanley RaghoebarsingSigning on behalf of Suriname, was Minister of Finance and Planning Stanley Raghoebarsing who said the agreement strengthens efforts to improve living standards in the interior of the country .
The first agreement concerns a soft loan of US$ 10 million with an interest of three percent per year, a grace period of two years and a term of 10 years.
This amount will be used for the sustainable development of electricity supply in remote villages.
The project will use hybrid systems, combining solar energy with diesel generation.
“This will ensure a reliable and environmentally friendly energy supply. The villages in the Cajanna cluster and the Galibi cluster will benefit from this improved electricity infrastructure. This will not only increase living standards, but also provide new opportunities for economic growth and social development,” Ministry of Finance and Planning said in a statement.
The second agreement concerns a donation of US$ 490,000.
This amount will be used for project management including monitoring and evaluation, information and preparations to introduce the sustainable energy system in other villages. Through workshops, training and awareness campaigns, local communities will be informed about the benefits of sustainable energy. In addition, the donation will be used to build technical capacity so that more villages can benefit from this innovative solution.
“Socioeconomic development potential in many isolated settlements is constrained by their disproportionately limited access to reliable and adequate electricity supply. The procurement and installation of the micro-grids financed by the CDF will help improve quality of life and livelihood opportunities, strengthen social cohesion across Suriname, whilst enabling the energy transition for disadvantaged hinterland communities,” the CDF noted.
The Ministry said the agreements represent not only financial transactions, but a commitment to sustainable development, environmental protection and the well-being of communities. With the electrification project, Suriname is taking a step towards a greener and more resilient future in the interior.
