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AfDB to Provide US$336mn Assistance For Development Projects

AfDB to Provide US$336mn Assistance For Development Projects

News: The African Development Bank (AfDB) is scheduled to provide financial assistance worth US$336mn to Kenya in order to support the country's clean energy and road infrastructure development projects. This will include US$186.7mn for the Mombasa-Nairobi-Addis Ababa Road Corridor Project, as well as a combined loan and grant worth US$149.5mn for the Menengai Geothermal Development Project. The funds will be used to develop 320km of road on the road corridor project, as well as providing transport and trade facilitation consultancy services in to improve procedures at the Kenyan border with Ethiopia. Meanwhile, the geothermal development project will have potential of up to 1,600MW, with the funds used to generate up to 400MW under the first phase.

BMI View: Kenya's power consumption is expected to rise sharply (up to 19.1 terawatt hours by 2021, according to our forecasts), driven by positive economic and demographic fundamentals. The country has been hit by persistent electricity shortages and is trying to boost the development of generating capacity to meet rising demand. The country's development plans also include significant improvements to roads, railways, seaports, airports, water and sanitation, as it attempts to increase its competitiveness in the global market.


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Publis Date: April.01.2011
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Publis Date: April.04.2011
Last Update Date: April.04.2011
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