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Browsing: Kinguélé Aval hydroelectric project
The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a €39 million (46.3M USD) loan package for the construction of the Kinguélé Aval hydroelectric project in Gabon.
The package comprises €20 million (23.7 million USD) from the African Development Bank, €10 million (11.87 million USD)from the Africa Growing Together Fund and €9 million (10.7 M USD) in concessional financing from the Sustainable Energy Fund for Africa, a special multi-donor fund managed by the African Development Bank.
Additional financing to meet the project’s €133.8 million (158.9M USD) budget will come from the International Finance Corporation of the World Bank Group, the Canada-IFC Program for Renewable Energy in Africa, the Development Bank of Southern Africa and the Emerging Africa Infrastructure Development Fund. The loan funds will be disbursed to Asonha Énergie S.A., a company created to manage the project.
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