ITEN, Kenya — Belgium will give an interest-free $22.7 million loan to Kenya to increase water supply in Elgeyo Marakwet County, according to an article from Bloomberg Businessweek.
The loan has a grace period of two years and must be repaid over 15 years and six months, according to the article.
Environment Secretary Judy Wakhungu said that area residents have "inadequate and unreliable supplies of water," and "the project will meet water needs for [the towns of Tambach and Iten]."
ASPAC Intl. of Brussels and Rift Valley Water Services Board of Kenya will construct a dam on the Charama River, build a water-purification plant, install 14 miles of pipelines and build an underground storage tank with the loan, according to the article.
To read the full article please visit: http://www.businessweek.com/news/2013-10-04/kenya-gets-16-dot-7-million-euro-loan-from-belgium-for-water-supply.
