The Rural Electrification Agency (REA) and Alpha Morgan Bank have signed a N50 billion financing agreement to support renewable energy projects in Nigeria. The partnership aims to accelerate electricity access in unserved and underserved communities. REA's Managing Director, Abba Aliyu, said the deal is necessary due to rising electricity demand, and noted that $119 million in Japanese financing is expected for mini-grids. Alpha Morgan Bank described the initiative as an attempt to generate measurable economic and social impact.
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