African Development Bank injects $266 million into Rwanda’s electricity expansion project

The African Development Bank has approved a loan of $266 million to support Rwanda’s program to improve electricity supply reliability and expand access to electricity as part of a drive to transform the country into an export-oriented economy.

The facility, approved by the Bank’s Board on Thursday, September 27, will be specifically channeled to the Scaling Up Electricity Access Program (SEAP II) in the Eastern African country. Rwanda received Bank investment of $46 million in 2013 for the first phase of the program, using investment-lending financing, which is now 90 percent complete and ahead of schedule.

The approved facility is split into a $192 million African Development Bank loan and a credit of $74 million from the African Development Fund. The combined amount represents 8.2…

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