The Africa Development Bank (AfDB) has announced its backing for the development of regional energy projects aimed at averting the looming power shortage in the southern African region by 2008, ZANIS reported on Thursday.

AfDB Infrastructure Consortium Africa Coordinator Alex Rugamba said the bank would work with other lenders to support the development of regional energy projects in the region.

Rugamba disclosed that the bank, as well as the World Bank and the European Investment Bank are helping in preparing regional projects for investment and mobilizing resources.

He pointed out that some of the projects earmarked for investment include the Inga Hdro power project, Zambia-Tanzania- Kenya interconnector and other regional interconnectivity power pool projects in Western and Eastern Africa.

Rugamba said the investment of the bank in the energy and transport sectors is aimed at improving competitiveness of regional economies and supporting market integration programs.

Source: Xinhua