Kenya, Ethiopia Land $350M Loan For Power Share Project

Law360, New York (September 20, 2012, 4:41 PM EDT) -- The governments of Kenya and Ethiopia nailed down a $348 million loan from the African Development Bank to put toward a $1.26 billion project that will merge their national grids and facilitate power trade in East Africa, the lender announced on Thursday.

The AfDB financing — which will come from the bank's concessional financing vehicle, the African Development Fund — will be used to erect a 1,068-kilometer, 500-kilovolt transmission line between Kenya and Ethiopia, according to a statement from the development bank. The project also entails...
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