Volume 2, issue #23 - 27-10-1997

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Zambia's power rehabilitation project for 90 % financed

Sept. 19, 1997 About seven donor agencies have pledged commitment to meeting 90 % of the required 200 million U.S. Dollars for Zambia's power rehabilitation project.
Zambia's Energy Minister Suresh Desai confirmed the pledge here Thursday, Times of Zambia reported today.
Following a donor consultative meeting held last Wednesday, the World Bank has raised its earlier pledge from 50 million dollars to 75 million dollars, while the European Investment Bank project management committee approved its commitment for the rehabilitation of power stations of the Victoria Falls and Kariba North Bank on the southern borders, according to the energy minister.
Other tentative commitments are received from Norwegian Development Agency and Development Bank of South Africa, Swedish International Development Agency, Finnish Development Agency and Development Bank of France.
The minister said that the Zambian government has commenced negotiations with the agencies to finalise agreements in the wake of the consultative meeting.
The Zambian government has embarked on a 195 million dollars project to rehabilitate all power stations in the country.