A $140m fund has been launched to finance power projects in East African countries, according to Africa-EU commissioner for Energy and Infrastructure, Elham Ibrahim.
Ibrahim explain that the fund’s capital consists of contributions from several key countries, including Germany and England which donated a combined total of £67 million.
“Smart-networks programmes must be adopted in all African countries as soon as possible,” mentioned Ibrahim. We aim to deliver power to 800 million African citizens by 2040, she said.
The fund is expected to provide Kenya, Ethiopia, and Comoros with finance to implement smart energy projects.
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