- Wed, 12/19/2012 - 13:35
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Five East African countries are expected to become beneficiaries of the Eastern Electricity Highway project which is expected to see these countries using Ethiopia’s surplus electric power for their domestic uses.
The five countries expected to be connected in this power pool are the east African economic powerhouse Kenya, Burundi, Tanzania, Uganda and Rwanda.
This was revealed at the occasion of the USD 243 million loan agreement signed on December 14 between the Ethiopian government and the World Bank for the financing of a section of Eastern Electricity Highway project connecting Ethiopia’s electrical grid with Kenya.
The project is also expected to enable electric power sharing between the two countries so as to reduce energy costs, promote sustainable and renewable power generation as well as paving the way for more dynamic regional cooperation between the countries of Eastern Africa.
The WB said the new project marks the first phase of a regional east Africa power integration program which is likely to cost USD 1.3 billion when completed, eventually paving the way to benefit 212 million people living in five countries with a combined Gross Domestic Product of USD 107 billion.
Guang Zhe Chen, World Bank country director for Ethiopia disclosed that the bank and the Ethiopian government have reaffirmed the focus on the partnership as the major pillar for financing during the 2013-2016 period, which this project is part of.
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