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The World Bank Monday approved a $180 million International Development Association (IDA)* Guarantee to mobilize private sector financing to strengthen the financial position of Kenya Electricity Generation Company Limited (KenGen) and build energy security for all Kenyans.
The project will build on Kenya’s gains that have diversified the energy mix and significantly improved electrification bringing much needed energy to millions of households and businesses. Ultimately, these gains lower the cost of electricity – critical to power Kenya’s manufacturing and growth aspirations.