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A financing agreement worth $350m has been signed for an 80MW peat-fired power plant in Kabumbwe, Gisagara district. The deal was announced by the Africa Finance Corporation (AFC), which is providing a loan of $75m in addition to arranging $225m of senior debt from a consortium including the Eastern and Southern African Trade and Development Bank (PTA Bank), the African Export-Import Bank (Afreximbank), the Development Bank of Rwanda, and the Export-Import Bank of India. AFC is also underwriting $35m and Finnish development agency Finnfund is lead arranger for the junior debt and is providing $10m of mezzanine debt.