World Bank seeks to help Kenya increase energy capital
29 August 2014, 08:08
Nairobi - A senior official from the World Bank's political
risk insurance and credit enhancement arm is due in Nairobi on Thursday
to seek ways of helping Kenya mobilize capital to finance various energy
A statement from the World Bank said Michel Wormser, Vice President
and Chief Operating Officer of the Multilateral Investment Guarantee
Agency (MIGA), will during a two-day visit meet with senior government
officials and representatives of banks, and other private sector
"Our ongoing support to Kenya's energy sector is a strong
demonstration of how the agencies of the World Bank Group can mobilize
significant volumes of private sector investment to provide an essential
service and be helpful in advancing the country's development agenda,"
Wormser said ahead of the visit.
The statement said Wormser's visit underscores MIGA's continued
support to the country's development goals, especially as Kenya builds
its power generation capacity through private sector investment.
He will arrive in Nairobi after talks in Tanzania and Zambia.
In June, MIGA announced its latest support for Kenya's energy sector
by insuring a non-shareholder loan to independent power producer (IPP)
Gulf Power Limited, one of a series of IPP plants being developed by the
government of Kenya and supported by the World Bank Group.
For the latest on national news, politics, sport, entertainment and more follow us onTwitter and like our Facebook page!