East African Community Secures AfDB Loan for Additional 7480MW of Power

Google+ Pinterest LinkedIn Tumblr +
  • The East African Community (EAC) has secure US 2.5 billion loan from the African Development Bank (AfDB) to provide an additional 7,480 megawatts (MW) of electricity by 2022.
  • The East African Community regional bloc comprises six member states in the African Great Lakes region in Eastern Africa, namely: Burundi, Kenya, Rwanda, South Sudan, Tanzania and Uganda.

The funds – approved through the Regional Integration Strategy for Eastern Africa (RISP 2018-2022) – will also help enhance regional transport connectivity, regional energy infrastructure, regional information and communications technology connectivity and management of trans-boundary water resources, officials said.

The funds will also support projects aimed at accelerating implementation of the regional single market, trade development, including tackling of non-tariff barriers, and putting in place policy frameworks for industrialization and promotion of EAC as a single investment destination.

According to AfDB Director General for Eastern Africa Region, Gabriel Negatu, the investment in agriculture and industrialization was crucial for the development of the region.

He said the opportunity for industrial growth exists in locally producing inputs for use in the agricultural sector.

EAC is still the fastest growing region partly due to solving bottlenecks of communication by investing heavily in infrastructure, Negatu said.

The Regional Integration Strategy Paper 2018-2022 maps out the direction of the Bank’s regional integration work in Eastern Africa over the next five years. The key objectives are fast-tracking structural transformation, increasing trade and promoting financial sector integration and inclusion.

Author: Bryan Groenendaal

Source: African Development Bank


Leave A Reply

About Author

Green Building Africa promotes the need for net carbon zero buildings and cities in Africa. We are fiercely independent and encourage outlying thinkers to contribute to the #netcarbonzero movement. Climate change is upon us and now is the time to react in a more diverse and broader approach to sustainability in the built environment. We challenge architects, property developers, urban planners, renewable energy professionals and green building specialists. We also challenge the funding houses and regulators and the role they play in facilitating investment into green projects. Lastly, we explore and investigate new technology and real-time data to speed up the journey in realising a net carbon zero environment for our children.

Copyright Green Building Africa 2024.