SURINAME-Suriname signs US$10 million loan agreement for electrification projects

PARAMARIBO, Suriname, CMC—The government of Suriname has signed loan agreements amounting to US$10 million with the Caribbean Development Fund (CDF) for electrification projects.

Minister of Finance and Planning Stanley Raghoebarsing signed on behalf of Suriname and said the agreement strengthens efforts to improve living standards in the country’s interior.

The first agreement concerns a soft loan of US$10 million with an interest rate of three percent per year, a two-year grace period, and a 10-year term.

This amount will be used to sustain the 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 and Galibi clusters will benefit from this improved electricity infrastructure. This will increase living standards and provide new economic growth and social development opportunities,” the 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 and strengthen social cohesion across Suriname while enabling the energy transition for disadvantaged hinterland communities,” the CDF NOTED.

The Ministry said the agreements represent not only financial transactions, but a strong and unwavering commitment to sustainable development, environmental protection and the well-being of communities. With the electrification project, Suriname is taking a significant step towards a greener and more resilient future in the interior.