Sana'a, May 2008 - IFC, a member of the World Bank Group, today signed an advisory agreement with Dr. Mustafa Bahran, Minister of Electricity and Energy of the Republic of Yemen, to help the government mobilize private investment for a new gas-fired independent power generation plant ("IPP").

Yemen has one of the lowest rates of electricity capacity per capita in the Middle East and North Africa. Inability to meet a demand growing by almost 10 percent a year has resulted in power shortages and reliance on inefficient, costly diesel-fired rental units. By undertaking its first IPP, the government aims to increase private investment in the country's power sector, make the electricity supply more reliable and accessible, and lower both its dependence on oil and the cost of power generation.

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Posted by boyang at May 15, 2008 6:51 PM