World Bank pledges funding to address African power crisis

The World Bank is readying funds to alleviate the power crisis in drought-hit countries in Africa. Mark Tomlinson, the bank’s country director for regional integration, believes the problem, unless solved, would weaken the region’s competitiveness. Officials from the agency see a decision on a $100 million loan to finance a thermal plant project in Uganda after the board’s August recess. The bank is also studying the possibility of putting the remaining funds worth $80 million for the Songo Songo gas pipeline to improve power transmission and generation in Tanzania. (Source: World Bank to help east African power crisis/Reuters)