[RwandaLibre] Rwanda signs a US$ 40m loan to boost electricity rollout

 

Rwanda signs a US$ 40m loan to boost electricity rollout

Friday, 14 February 2014 12:02 By The Independent Team


The Government of Rwanda and the African Development Bank have signed
a US$40 Million financial agreement that will fund the construction of
119 Km of transmission line from Rusumo Power Plant to Birembo
substation in Kinyinya, Gasabo through the new Bugesera International
Airport substation.

The concessional loan will support Rwanda's electricity access program
from the current 17% of households to 70% by 2018. The project
beneficiaries will include households, industries, small and medium
sized enterprises and businesses who will gain access to cheaper, more
reliable and sustainable electricity.

Speaking after the signing event, the Minister of Finance and Economic
Planning Claver Gatete noted that Rwanda expansion of electricity
access rate will contribute to Rwanda's sustained Economic
development.

"Increased electricity access create employment opportunities,
increase off farm jobs, contribute to industrial development and
reduce production costs through decreased electricity tariffs,"
Minister Gatete said.

AfDB country representative Negatu Makonnen observed that the Bank's
support will directly contribute to Rwanda's objective of sustained
rapid economic growth and facilitate the process of economic
transformation.

"The support will help increase the country's renewable (hydro)
electricity supply capacity to address the power deficit and allow
expansion of energy access rate. It will also provide the opportunity
to replace high cost thermal plants from the power systems, thereby
lowering the cost of power generation," Mr. Makonnen said.

Rusumo Falls Hydroelectric Power Plant is a regional Project shared by
Tanzania, Rwanda and Burundi. The Power plant is expected to generate
80 MW that will be equitably shared among the Three Countries- Each
country will have a share of 26.6 MW.

World Bank will finance the power plant with an amount of US$ 340
million while AFDB will finance Transmission lines in the three
countries.

AFDB also finances the Electricity Access Rollout Program with total
financing of US$ 43 Million. Apart from the energy, the bank is
currently financing 23 projects with to a tune of over US$ 500 with
infrastructure projects taking the lion's share of over 60% of the
entire financing.

http://www.independent.co.ug/rwanda-ed/rwanda/8703-rwanda-signs-a-us-40m-loan-to-boost-electricity-rollout-

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