Thursday
April 28
2022

African Development Bank Approves $180 Million Loans to Extend Electricity Access to Rural Areas in Rwanda

The Board of Directors of the African Development Bank (AfDB.org) has approved two loans amounting to $180 million to co-finance a major energy project that will extend electricity access to rural areas and reduce greenhouse gas emissions in Rwanda.

This follows the 26 May 2021 approval for $84.2 million from the resources of the African Development Fund (ADF), the concessional window of the Bank Group, for the same project.

Financing for the Transmission System Reinforcement and Last Mile Connectivity project comprises $140 million from the African Development Bank sovereign window and a $40 million co-financing from the Africa Growing Together Fund (AGTF), as well as resources from the ADF.

Photo courtesy of Images Money

Source: Devdiscourse (link opens in a new window)

Categories
Finance
Tags
banking, electricity, energy access, finance, financial inclusion, loan, rural development