World Bank OKs $684M In Loans For East Africa Power Line

Law360, New York (July 12, 2012, 8:13 PM EDT) -- The World Bank signed off Thursday on $684 million in financing for the Eastern Electricity Highway Project, which plans to connect the electrical grids of Ethiopia and Kenya to reduce energy costs and address Kenya's severe power shortages.

The project, which will allow Ethiopia to sell its surplus power to Kenya, is the first part of a $1.3 billion regional power integration program in East Africa that should benefit 212 million people living in five countries, the bank said.

"This landmark transformational project will change the...
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