Obama signs Africa electricity initiative into law

US President Barack Obama, who on February 8, 2016 signed into law a measure aimed at expanding electricity to millions of households in sub-Saharan Africa. PHOTO | SAUL LOEB |

What you need to know:

  • Virtually no new US federal funds are allocated for the project, which instead will use a system of loan guarantees to add 20,000 megawatts of electricity to the continent's grid by 2020.
  • The law aims to build on a "Power Africa" initiative Obama promoted during a trip to Kenya in July.
  • It would see the investment of about $7 billion in US funds, largely financed through the US Export-Import Bank, in order to create 30,000 megawatts of clean energy generation.

WASHINGTON, DC

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