News In Brief - AfDB Approves US$348mn Loan To Fund Cross-Border Power Line
News: The African Development Bank (AfDB) has granted a US$348mn loan that will finance a cross-border power line between Ethiopia and Kenya. This would be the second phase of a US$1.26bn project aimed at improving power supply. Ethiopia is poised to receive US$232mn of the funding, while Kenya would get US$116mn, the AfDB revealed. The first phase of the funding totalling US$684mn was approved by the World Bank in July 2012. The project to construct the 1,068km high-voltage transmission line is being funded by the World Bank, the Ethiopian and Kenyan governments, and the French Development Agency.