Ethiopia-Kenya project gets Sh13.5B from ADB
Treasury has acquired 13.5 billion loan from the African Development Bank that will be used to fund the Ethiopia - Kenya Electricity Highway Project as well as various projects in the Higher Education Ministry.
The power project will get 9.8 billion shillings which is an addition to the 37.5 billion shillings that it already signed from World Bank Wednesday.
Kenya and Ethiopia started an ambitious power project that would see Kenya import power from Ethiopia at an average cost of 7 cents per killowatt hour.
This is expected to bridge the power deficit in Kenya and to minimize the frequent blackouts currently being experienced.
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Thursday, December 6, 2012
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