EU bank pledges support for Kenyan energy projects

An EU bank has pledged to provide support for projects in the power sector in Kenya. The announcement has been made during the European Investment Bank’s (EIB) three-year visit to […]

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By Priyanka Shrestha

An EU bank has pledged to provide support for projects in the power sector in Kenya.

The announcement has been made during the European Investment Bank’s (EIB) three-year visit to the country, which will include a site visit to the Lake Turkana Wind Park.

It is the largest wind farm in sub-Saharan Africa developed by the private sector, which the EIB helped finance in 2014.

The Bank signed a 60 million (£52m) agreement for the ‘Last Mile Connectivity’ project, which will connect nearly 300,000 Kenyan households to the electricity grid.

It is also providing 113 million (£97.8m) to extend the Olkaria I geothermal plant.

The loans are part of the EIB’s aim to help provide electricity for all Kenyans by 2020.

EIB Vice President Pim van Ballekom, responsible for operations in East Africa said: “Contributing to key infrastructure is one of the ways in which the EIB supports basic services, entrepreneurship and competitiveness in Kenya and we are happy to be able to partner up with local and European partners to achieve this.”