UGANDA - ACHWA 1 42 MW Hydro Power Project

The project company, ARPE Limited (“ARPE”), has built two cascading Hydro Power Plants totaling 83MW located in Pader District in Northern Uganda, namely Achwa 1 and Achwa 2. ARPE is an existing client of the Bank through the financing provided for Achwa 2 in 2017. Achwa 1 was financed using short term bridge loans maturing between 2024 and 2026. The proposed refinancing for the short-term bridge loans will resolve the debt maturity mismatch vis-a-vis the economic life of the project and preserve the long-term financial sustainability of ARPE. This project primarily contributes to climate mitigation results. As such, 100% of the total approved amount is attributed as climate finance, of which 100% is dedicated to mitigation.