Kenya has signed Sh6.7 billion towards last mile connectivity project that will enable aimed at reaching 1.5 million people access electricity.
The loan signed with European Investment Bank (EIB) targets universal access to electricity for the Kenyan population by 2020.
“Kenya is increasingly becoming a hub for the region on many levels. We as a bank must look at this from a very basic point of view, namely that there is a young and growing population with enormous potential, and that you need investments to support that momentum, both directly and indirectly. Thanks to today’s signature over 300.000 Kenyan households – up to 1,5 million people - will soon be connected to the electricity grid, a basic condition for further economic growth. Two further projects that we have committed to will improve access to Mombasa harbour and support geothermal energy at Olkaria. Contributing to key infrastructure is one of the ways in which the EIB supports basic services, entrepreneurship and competitiveness in Kenya and we are happy to be able to partner up with local and European partners to achieve this,” EIB Vice President Pim van Ballekom said in a statement