Kenya: the AfDB looks to fund Lamu coal project

The African Development Bank (AfDB) is considering to fund the construction of Kenya’s first coal-fired power plant.

Speaking to Xinhua in Nairobi on Monday, AfDB Director-General of the East Africa Regional office, Gabriel Negatu, said the multilateral development finance institution is awaiting the environmental and social audits before they can release the funds.

“The owners of the 1,000MW Lamu coal plant have approached the AfDB for funding amounting to $100 million as well as guarantees of a similar amount for the construction of the power plant,” Negatu stated.Read original article here