The Rural Electrification Authority has signed a $63.465 million (Sh6.42billion) loan from a consortium of financiers, boosting the authority’s efforts to enhance electricity supply in rural areas.
The funds are from Arab Bank for Economic Development, Abu Dhabi Bank for Development, Saudi Fund for Development, OPEC Fund for Development and the Kenyan government. REA plans to spend the cash on electrification projects in 16 counties, targeting 591 public facilities and 35,460 households in five regions.
They include Nyanza-Western, North Rift, South Rift, Mount Kenya-upper Eastern and lower Eastern-Coast. “The project is expected to start this financial year,” REA said in a statement.