In a joint announcement, the African Development Bank and the United Kingdom have selected Kenya's Transmission Network Improvement Project as a beneficiary under the Room to Run Sovereign transaction (R2RS).
This move unlocks up to $59 million for the climate mitigation component, contributing to the total $116 million project cost. The initiative addresses transmission network limitations, enhancing electricity supply reliability and quality.
The R2RS program, announced at COP26, facilitates climate finance by guaranteeing $2 billion for the African Development Bank, supporting critical projects.
This marks the third R2RS beneficiary project, following Tunisia, Benin, and Mauritius, and signals a significant step towards universal electricity access in Kenya.
With green energy initiatives, Kenya is on the brink of achieving universal access, a crucial milestone in sustainable development and the fight against climate change.
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Category: Business
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