AfDB funds Kenyan development
17 March 2012
The African Development Bank (AfDB) is to finance US$ 336 million for clean energy and road infrastructure development in Kenya.
The financial package will see US$ 186.7 million awarded to the Mombasa-Nairobi-Addis Ababa Road Corridor Project and a combined loan and grant worth USD 149.5 million for the Menengai Geothermal Development Project.
The funds will go towards the construction of 320 km of road on the Mombasa-Nairobi-Addis Ababa Road Corridor Project. The loan will also cover transport and trade facilitation consultancy services aimed at improving procedures at the Kenyan border with Ethiopia.
Meanwhile, the Menengai Geothermal Development Project will help diversify Kenya's power supply. The Menengai steam field has a potential of up to 1600 MW. The US$ 149.5 finance package will help develop the field to generate up to 400 MW in a first phase.