The World Bank Group executive board in Washington will examine and make a final decision on the 250MW Bujagali hydro-power project on Thursday (April, 26). A go-ahead by the board will lead to financial approval and disclosure for the project and enable the damâ€™s construction to start.
Bujagali Energy Limited (BEL), a consortium between Industrial Promotion Services (IPS) of Kenya and Sithe Global, a US power giant, are the project developers.
The World Bank Group through its agencies like the International Finance Corporation (IFC), International Development Association (IDA) and the Multilateral Investment Guarantee Agency (MIGA), is the leading project lender.
The IFC, the groupâ€™s private lending arm, is evaluating $130m in form of A and C loans for the construction and operation of the facility. IDA, the interest-free arm, is expected to provide a partial risk guarantee of $115m for the project's commercial lenders.