CRI听力: Kenya Hails China's Loans for its Energy Projects Development

The Chinese government has signed off on a 90 million US dollar loan to help Kenya develop the Ol Karia geothermal power production facility some 100 kilometers west of the capital Nairobi.

CRI Nairobi correspondent Wei Tong has more.

The deal was signed Tuesday by Deputy Governor of the Export-Import Bank of China, Zhu Hongjie and Kenyan officials.

Kenya's Energy Minister Karaitu Murungi was at the signing ceremony. He suggests China has been critical as far as Kenya's energy development is concerned.

"China is the most active partner in the energy sector. This new credit line of $ 95 million will cater for the cost of drilling 26 steam production wells at Ol Karia geothermal fields. The 26 wells are part of the 40 additional wells that the government is drilling at an estimated cost of 15 billion Ksh and that is over $ 205 million to provide adequate steam to run the proposed Ol Karia 280 Megawatts power project which we intend to commission in the year 2013."

Deputy Governor of the Export-Import Bank of China Zhu Hongjie notes his bank's mandate to help Kenya and other developing African nations should help the continent develop more clean energy projects.

"We would like to share the clean energy technology with Kenya and other developing nations and offer financial support if needed. As a government policy bank, the Export-Import Bank of China the Bank is a major onlending bank of foreign government loans and the only operating bank for Chinese Government Concessional Loan, the aim of which is to promote economic and technical cooperation between China and developing countries especially Africa."(www.hXen.com)

This agreement is the latest in a string of projects China is involved with in Kenya, which includes the construction of Thika Road, the Nairobi Eastern and Southern Bypass and Petroleum Exploration in Northern Kenya.

Wei Tong, CRI News, Nairobi, Kenya.