Kenya/South Sudan/Uganda: World Bank Pledges $600 Million to Fund Uganda-Kenya Oil Pipeline

Oct 27, 2014 | Platts
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The World Bank has pledged some $600 million to facilitate the construction of a regional pipeline linking oil fields in Uganda, Kenya and South Sudan, the lender said Monday.

In a statement, the World Bank said that the funds would be provided by its private lending arm, the International Finance Corporation and is part of a $1.8-billion loan to fund various infrastructure projects in the Horn of Africa region, where companies have made a flurry of oil and gas discoveries in recent years.

A new World Bank Group paper forecasts that the Horn will undergo dramatic and lasting change when oil production starts in Kenya, Uganda, and possibly Somalia and Ethiopia.