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Kenya : First Commercial Financing for Power Plants Made Possible through a Series of IDA Guarantees

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World Bank, Washington, DC
Africa | Kenya
2015-07-07T18:45:29Z | 2015-07-07T18:45:29Z | 2015-06

The $623 million financing included the first long-term commercial loans for private power plants in Kenya and marked the first time IDA guarantees were issued in support of local investors. The guarantees minimized the government’s contingent liabilities by limiting its exposure to two to three months of payments and guarantees. They also helped to ensure consistency and predictability in government support for Kenya’s Independent Power Producer Program. Most important, they made possible the construction of 298 MW of critically needed generation capacity.

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