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Kenya: Japan extends US$375m loan among others for geothermal

Alexander Richter Alexander Richter 19 Feb 2010

Japan extends a loan of $375 million (Sh28.8 billion) to Kenya for geothermal power generation, drought responses and reforestation.

Reported from Kenya, “Japan has extended a loan of $375 million (Sh28.8 billion) to Kenya for geothermal power generation, drought responses and reforestation.

Of the amount, $320 million (Sh24.6 billion) will be channelled to geothermal power generation while $55 million (4.2 billion) will service drought responses and reforestation in the country.

Japan Prime Minister Yukio Hatoyama also offered Japan’s assistance for Kenya to develop a nuclear power plant, noting that Japan had the most advanced technology in nuclear power production. He said Kenya can expect additional assistance in other areas of climate change measures.

Mr Hatayama made the announcement at a meeting with Prime Minister Raila Odinga, who wound up his one week visit to Japan on Saturday. Mr Odinga arrived in Japan on Monday evening for meetings with business and political leaders aimed at attracting Japanese aid and investments to Kenya.

During Saturday’s meeting, attended also by Deputy Prime Minister Uhuru Kenyatta, Industrialisation minister Henry Kosgey, Prof Wangari Maathai and assistant minister Harun Mwau at Mr Hayama’s offices, Japan also expressed strong commitment to support Kenya’s Vision 2030.

Mr Hatoyama said Japan will support Kenya’s desire for expanded trade and investment. He pledged to push for increased exports of Kenyan products to Japan and an of Japanese tourists to Kenya, and greater investment of Japanese private companies in Kenya.”

Source: Nation