The European Investment Bank (EIB), involved in numerous projects throughout Africa, is on the East African Community’s (EAC) list to help finance regional infrastructure projects. According to the EAC, targeted projects costing around $175 million will include aviation, road and water transport, and energy.
Projects include interconnectivity schemes which would also help the East African Power Pool supply reliable energy to the region. Dr. Richard Sezibera, EAC secretary general, met with EIB officials at the financier’s headquarters in Luxemberg saying, “The projects are significant to the EAC in different ways.”
The EIB is already involved in infrastructure projects like its $30-million to upgrade Zambia’s Kafue-Livingston transmission line. And in April, the Bank sent a delegation to Kenya to discuss new funding mechanisms for small and medium enterprises as well as micro-financing schemes.
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