The Emerging Africa Infrastructure Fund (EAIF) announced on 12 August the finalisation of a $54m debt finance package for a 16.5MW run-of-river plant at Kikagati on the Kagera River, which forms the border between Uganda and Tanzania. EAIF said financial closure of the project had seen the first tranche of debt funding released to the developer and future owner-operator, the Kikagati Power Company, which is wholly owned by the Africa Energy Renewable Fund. The EAIF and Dutch development bank FMO have each provided loans of $27m for the $87m project.