Kenya to light up 40pc of households by 2020
Posted Friday, August 10 2012 at 12:37
IFC said that the expansion demonstrates there is great opportunity for growth in Kenya's power sector, but this would require significant investment.
"More stable power supply will allow business growth and improve living standards in Kenya," said Jean Philippe Prosper, IFC Director for East and Southern Africa.
"The IFC loan builds on a long-term partnership between the World Bank and Kenya Power over the past 10 years," said Mr Prosper who signed the loan agreement in Nairobi.
He noted that IFC seeks to invest in companies such as Kenya Power, which will further develop the power sector in Kenya and the region; reduce damage to the environment and fuel economic growth and development of the East Africa power pool.