World Bank arm to give $600 million for regional oil pipeline
Wednesday October 29 2014
Workers lay down a pipeline in Eldoret. The International Finance Corporation has pledged Sh54bn for 1,300km of pipeline connecting Kenya, Uganda and South Sudan. FILE PHOTO | JARED NYATAYA | NATION MEDIA GROUP
Funding part of a $1.8 billion loan for projects in the Horn of Africa.
The financing targets 1,300 kilometres but the whole pipeline project is estimated to cost $5 billion to complete.
The funds made available by the IFC are also intended to support renewable energy projects such as wind energy and access to markets.