The United States International Development Finance Corporation (DFC) Board has announced an increase in debt financing to support the development, construction, and operation of approximately 105 megawatts of thermal plants in Sierra Leone.

Initially approved in 2021 for an amount of up to US$217 million, the financing has now been augmented to US$292 million.

According to the official notice released by the DFC Board, the resolution approves financing under 22 U.S.C. § 9621(b) to CECA SL Generation Limited for the purpose of developing, constructing, and operating the thermal power plant and associated infrastructure. This increase in financing reflects certain changes to the project’s scope and requirements.

Additionally, the resolution includes the issuance of a contract of political risk insurance to CEC Africa (Sierra Leone) Limited, or an eligible affiliate, for their investment in the project.

Originally approved for a maximum liability of up to $50,000,000, the insurance coverage has now been expanded to a maximum liability of up to $120,000,000, taking into account the updated project specifications.