World Bank approves $ 125 mm loan for reforms in Kenya's power sector

Jul 23, 1997 02:00 AM

July 7, 1997 The World Bank has approved a $ 125 million credit for Kenya to back the government's reform in the power sub-sector. The energy sector investment project, the total cost of which is estimated at some $ 1 billion, is designed to result in the development of an efficient and viable energy sector to support the country's economic growth. The project includes sector restructuring and reorganisation, legal and regulatory reforms for the power sub-sector and facilitate private sector entry, power expansion and rehabilitation at least-cost, including two 75 MW power plants in Mombassa, two 32 MW power plants at Olkaria and a 60 MW hydropower plant on the Sondu River.
The credit will be channelled through the International Development Association (IDA), the concessionary lending arm of the World Bank. In addition to the IDA credit, the Commonwealth Development Corporation and the European Investment Bank are also considering cofinancing the project.

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