AfBD Gives Kenya-Tanzania Power Project $145M Green Light

AfBD Gives Kenya-Tanzania Power Project $145M Green Light

From The Africa Report

The African Development Bank (AfDB) has approved a $145 million loan to fund the building of an electricity line between Kenya and Tanzania to improve regional power connections, it said.

East Africa has some of the fastest growing economies on the continent but electricity shortages deter investment, pushing up business costs and sustaining poverty and inequality.

AfDB said on Wednesday the funding will help construct 508 km (305 miles) of transmission lines and substations along its path to allow for the transfer of 2,000 megawatts (MW) of electricity in either direction between Kenya and Tanzania.

“The Kenya-Tanzania Interconnection Project plays an important role in promoting regional integration through power trade,” AfdB said in a statement.

Earlier this month, the two countries said they were seeking a consultant to oversee the construction of the line.

Read more at The Africa Report