Tuesday, October 2, 2012

» AfDB approves $348m funding for Kenya-Ethiopia $1.26b electricity highway-Ghana Business News

The African Development Fund of the African Development Bank (AfDB) has approved $348 million in funding for the $1.26 billion electricity highway project between Kenya and Ethiopia.
The bank approved the funds Thursday, September 20, 2012.
Due for commissioning in November 2017, the project involves the construction of a 1,068-kilometre high-voltage direct current 500 kV transmission line between the two countries. It also includes putting up of associated converter stations at Wolayta-Sodo (Ethiopia) and Suswa (Kenya), with a power transfer capacity of up to 2,000 MW.
The project is intended to promote power trade and regional integration, contribute to the Eastern Africa Power Pool (EAPP) countries’ social and economic development, and reduce poverty in those countries.
“With the approval of this project, we have solidified our position as the key strategic partner for East African countries in the power sector,” said Gabriel Negatu, AfDB’s Regional Director in charge of East Africa.
The project has been co-financed with the World Bank, the French Development Agency (AFD) and the Governments of Kenya and Ethiopia.
By Ekow Quandzie

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