The Emerging Africa Infrastructure Fund (EAIF), part of the Private Infrastructure Development Group, has signed a $27m loan agreement for the 16.5MW Kikagati run-of-river hydropower project. The plant, which is under construction, is located on the Kagera River on the border between Uganda and Tanzania. The anticipated 113GWh/yr will be sold to the Uganda Electricity Transmission Company, which will sell half on to Tanzania.The Netherlands’ FMO was lead arranger for the senior debt, signing its $27m portion in February.