Tuesday, December 18, 2012

Ethiopia, World Bank sign $243m loan agreement for Ethio-Kenya power transmission line

A 243 million USD loan agreement signed on Friday between Ethiopia and the World Bank to finance the Ethio-Kenya power transmission line.
 Signing the agreement were Sufian Ahmed, Minister of Finance and Economic Development and Guang Z. Chen, World Bank Country Director to Ethiopia.

After signing the agreement, Sufian said the agreement would enable Ethiopia to provide power for Eastern African nations at a reasonable price.

Ethiopian Electric Power Corporation CEO, Mihret Debe said the Ethio-Kenya power transmission line covers 1,200kms and is expected to cost 1.3 billion USD on completion.

He said the Ethio-Sudan power transmission line which has already been completed would go operational as of January 2013.
Guming Xi Chin, World Bank Country Director to Ethiopia, for his part said the Eastern African Power Connectivity Program would benefit some 212 million people in the region.

Source: ERTA

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