Source: People's Daily Online

The World Bank is expected to approve in May the 750 million U.S. dollars funding for the Bujagali hydropower dam project in Uganda.

According to state-owned New Vision on Saturday, World Bank, the leading lenders and the project developers, will meet late this month and in early April to finalize the project's financial transactions, paving way for the actual commencement of the construction.

The World Bank through its private sector lending arm, the International Finance Corporation, the African Development Bank, the European Investment Bank, are the leading financiers of the project.

The Bujagali Energy Ltd, a joint venture between Kenya's Industrial Promotion Services and the United States-based power firm, Sithe Global, won the tender to develop the plant.

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Posted by pichu at March 18, 2007 4:12 PM