AfDB grants loan for hydropower project

November 28, 2013 9:00 AM

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AfDB grants loan for hydropower project

November 28 2013 at 10:54am

Dar es Salaam - The African Development Bank (AfDB) has approved a $113-million loan to fund a cross-border hydro-power project aimed at easing chronic energy shortages in Tanzania, Rwanda and Burundi.

Lack of access to electricity is a major constraint to economic growth in the region.

The loan will fund construction of electricity transmission facilities for the 80-megawatt Rusumo Falls project on the Tanzania-Rwanda border.

“Construction of the transmission facilities is expected to be completed by August 2018; the three countries will share the power generated equally,” AfDB said in a statement late on Wednesday.

The estimated cost of the project is $468.6-million, with the AfDB funding the transmission facilities.

Source: thepost.co.za

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