NAIROBI, March 27 (Xinhua) -- Kenya, European Investment Bank (EIB), the European Union (EU) and France on Monday signed a 180-million-euro deal to boost electricity connectivity in the East African country.
Cabinet Secretary in the National Treasury Henry Rotich told a media briefing that under the agreement 300,000 households will be connected to the national grid.
"The funds will support Kenya's Last Mile Connectivity initiative that aims to connect all Kenyans to national grid by the 2020," Rotich said.
The financial package consists of a 90-million-euro loan from the French Government, 60-million-euro loan from the EIB and a grant of 30 million euros from the EU.
EIB Vice President Pim van Ballekom said that funds will enable more Kenyans to have access to more reliable electricity supplies.
Van Ballekom said that Kenya's government efforts and investments over the past ten years have enabled more citizens to access to electricity.
EIB noted that electricity is key to any economy as it helps to improve the overall economic situation by enabling businesses to expand operations.