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The World Bank has revealed plans to extend support to Djibouti for geothermal energy exploration
Djiboutian energy minister, Ali Yacoub Mahamoud, met with World Bank officials on 14 April 2013 to discuss support for planned geothermal energy exploration in the Assal Rift Valley.
Principal energy economist and project leader for the Djiboutian geothermal project, Ilhem Bagdadii-Salamon, World Bank representative in Djibouti, Homa-Zahra Fotouhi, director of Djibouti Electricity Djama, Ali Guelleh, and various other officials also attended the meeting.
The negotiations finalised plans for the loan, funded by the World Bank’s International Development Association (IDA), the Energy Sector Management Assistance Programme and the Global Environment Facility.
Ministry of energy’s secretary general, Ainan Farah, said, “Djibouti’s geothermal energy potential is huge, and our development partners such as the IDA or the World Bank believe in its feasibility.
“The geothermal energy potential at Lac Assal and Hanlé is huge and our country's future depends on it, as far as energy is concerned.”
Initial negotiations for the project were held in March and addressed the documentation and legal aspects of the project.
At the end of the meeting, World Bank officials expressed happiness at the completion of negotiations and said that the project could begin with some guarantee of success.