Kenya is securing $163 million in loans to acquire five drilling rigs, Bloomberg reports. The Export-Import Bank of China (Exim) and the French Development Agency are lending the funds to Kenya in 2011.
Exim Bank will offer $90 million for three of the facilities and government-owned Agence Francaise de Developpement the remainder. Kenya seeks to spend $2.6 billion in 10 years to sink 566 wells at Olkaria, Menengai and Silali in the Great Rift Valley.
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