A project which aims to provide affordable and reliable electricity in West Africa has secured funding worth $261 million (£155.9m).

The Banda Gas-to-Power Project will produce and convert natural gas from offshore gas fields in Mauritania into 300MW of electricity.

It will expand electricity supply and trade in the region as the project will export power to Mali and Senegal, benefiting more than 1.4 million households.

Current demand for energy in the three nations is being increasingly met through expensive and polluting liquid fuel based power generation, according to the World Bank, which approved the funding.

The support also includes $585 million (£350m) in investment guarantees provided by the Multilateral Investment Guarantee Agency (MIGA).

Makhtar Diop, World Bank Vice President for the Africa Region said: “African countries cannot create jobs and opportunities for young people without adequate access to affordable, reliable and clean energy.

“This first-of-its-kind combination of guarantees mobilises $950 million (£567m) of private investment in gas extraction and energy generation by facilitating power trade among Mauritania, Senegal and Mali.”