31 October 2007 – The African Development Bank has signed a loan worth US$29.7 million for the implementation of the Bujagali Power Interconnection Project, a 100km transmission line from the 250MW Bujagali hydropower plant.
In a press release from the Bank’s head office in Tunis, it was revealed that the agreement was signed by Bank officials and members of the Ugandan government. The load is part of an estimated US$75.84 million cost for the power interconnection project.
"The common goal of the government of Uganda and the AfDB for the electricity sector is to improve the population’s access to electricity for the country’s social and economic development in an environmentally sustainable manner," said Mr Moses Kiwe Sebunya, Uganda’s Ambassador to Libya.
Finance for this project is being provided by the Uganda Electricity Transmission Company Limited, African Development Bank and the Japan Bank for International Cooperation.
The project total cost is estimated at US$735.5 million.