World Bank approves East Africa electricity highway project‏

23 Jul



The World Bank board of executive directors’ approval of the Eastern Electricity Highway Project marks the first  phase of a US$1.3 billion power integration program in east Africa.

The  project will connect electrical grids between Ethiopia and Kenya, create power-sharing between the two countries, reduce energy costs, and pave  the way for more dynamic regional cooperation between the countries of  east Africa, the World Bank says. The World Bank financing of  US$243 million for Ethiopia and US$441 million for Kenya will come from  the International Development Association, the bank’s fund for the  world’s poorest countries.

“The Eastern Electricity Highway Project is a unique opportunity to unlock East Africa’s vast energy potential, including hydropower, while safeguarding the environment,”- Paivi Koljonen    

Source: The World Bank Site

The bank says Ethiopia will benefit through  the sale of energy to Kenya, which faces severe power shortage. Both  countries would benefit from additional jobs created by construction and installation activities.

Makhtar Diop, World Bank vice president for the Africa region, says  the landmark transformational project will change the fundamentals of  the power sector in east Africa and expand access and lower the cost of  electricity supply to homes and businesses across Kenya.

The approval of the east Africa electricity highway project is  anchored in a World Bank regional strategy for Africa which aims at  promoting greater investment, boosting economic growth and reducing  poverty.

In 2011, World Bank helped to provide electricity to additional 1.4 million people in African countries.


Posted by on July 23, 2012 in International News


Tags: , , , , , , , ,

2 responses to “World Bank approves East Africa electricity highway project‏

  1. brown

    June 19, 2013 at 12:53 pm

    I hope this project will go a long way in transforming people’s lives in this area,check books on financial markets at that are amazing.

  2. Williams Rhys

    June 20, 2013 at 8:54 pm

    We are direct provider of fresh cut bank instrument for lease/sale, such as BG,SBLC, MTN, Bank Bonds,specifically for lease with no upfront payment, at leasing price of 6+2 of face value, Issuance by HSBC London/Hong Kong or any other AA rated Bank in Europe, Middle East or USA.Leased Instruments can be obtained at minimal expense to the borrower compared to other banking options.

    The Leased Instruments includes: BG’s, Insurance Guarantees, MTN, (SBLC) Standby Letters of Credit and Third Party Guarantees such as a standby forward commitment to purchase or a standby loan. If you are a potential Investor or Principle looking to raise capital, we will be happy to answer any questions that you have about this opportunity and to provide you with all the details regarding this services.

    Our BG/SBLC Financing can help you get your project funded, loan financing, please let me know if you are interested in any of our services, by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100% funding.

    Warm Regards,
    Rhys Williams

    Lisa A law Limited

    Company Reg No:7141002

    Tel: +44-1254-421-664

    Fax: +44-128-727-6014


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: