AfDB Injects Funds into Africa's Energy, Water Sectors

The Afircan Development Bank has approved funding for several energy projects worth more than USD1 billion and for three water sector projects amounting to USD114.35 million.

The USD1 billion financing for energy projects includes a USD550 million loan for the construction of a steam cycle power plant near the Egyptian city of Suez, USD106.6 million worth of grants for rural and suburban electrification projects in the Democratic Republic of Congo, a USD71.45 million loan for the modernization of Kenya’s power transmission sytem, a USD69.4 million credit for Tanzania’s efforts to connect four key power substations, and an approximately USD233 million loan and grant package for the construction of new transmission lines and substations across Ethiopia.

Meantime, the USD114.35 million for water sector projects comprises a USD53.4 million grant designed to help improve sewerage system and support the rehabilition of the sanitation network in Nairobi, Kenya, and a USD16.6 million financing package for Mozambique’s national rural water supply and sanitation program. AfDB is also providing USD44.4 million to help improve water services and sanitation facilities in three major towns in Sierra Leone.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.