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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.

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2 Comments

Posted by on July 23, 2012 in International News

 

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

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