Uganda Power Distributor Gets IFC-Arranged $70 Million Loan
- Loan to help Umeme expand network, increase customer base
- Other lenders include Standard Bank Group, Standard Chartered
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International Finance Corp. arranged a syndicated loan of $70 million for Umeme Ltd. to enable the Ugandan power distributor to expand its network and deliver electricity to more homes and businesses.
Standard Bank Group Ltd.’s and Standard Chartered Bank Plc’s local units and the Dutch Development Bank were the other lenders that participated in the financing package, the Kampala-based company said Thursday in a statement.