Sunday, September 23, 2012

AfDB approves US$348m to fund Ethiopia-Kenya power line - The New Times Rwanda

The African Development Bank has approved a US$348 million loan for Ethiopia and Kenya to finance a cross-border power line, the second phase of a US$1.26 billion project to help improve power supply.

Ethiopia is poised to generate revenue exporting power from its hydropower resources to Kenya, which is facing constant power blackouts.

Kenya, east Africa’s biggest economy, has been investing in its infrastructure, including expanding power supplies to meet growing demand amid robust economic activity.

The electricity will originate from a number of existing and future power plants in Ethiopia.

AfDB said Ethiopia would receive $232 million of the funding, while Kenya would take US$116 million.

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