EIB Set to Back 50 Million-Euro Loan for Liberian Hydropower
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The European Investment Bank is close to approving a 50 million-euro ($64 million) loan for Liberia’s Mount Coffee hydropower project and may provide 100 million euros for a similar power plant in East Africa.
The financing would be part of as much as 1 billion euros worth of loans the Luxembourg-based bank is considering in sub-Saharan Africa, Vice President Pim van Ballekom said in a Nov. 21 interview in the Ethiopian capital, Addis Ababa. The deal for the 64-megawatt Liberian project, which will cost 180 million euros, may be approved this year, he said.