世界银行：2025年加强西非公用事业资产负债报告（英文版）

Most power utilities in West Africa are not financially sustainable. Of the 25 West African utilities included in the World Bank’s Utility Performance and Behavior Today (UPBEAT) database, only six are able to recover their operating and debt service costs—the bare minimum for financial sustainability— even when operating subsidies are included (as reported in utilities’ income statements). Without operating subsidies, this number drops to three. Poor cost recovery often drives a vicious cycl