StanChart’s Sh5bn for Obama pro­ject

The Star (Kenya) - - News Business -

Stan­dard Char­tered Bank has en­tered into a Sh5.09 bil­lion ($50 mil­lion) part­ner­ship with USAid to fund green en­ergy projects in East and South­ern Africa. The loans un­der Power Africa, an ini­tia­tive of the out­go­ing US Pres­i­dent Obama’s ad­min­is­tra­tion, will be dis­bursed through PTA Bank. StanChart is the lender, while USaid is the guar­an­tor.

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