South African Bank gives loan for Zambia power grid

Sep 28, 1998 02:00 AM

July 23, 1998 The Development Bank of Southern Africa (DBSA) and Zambian Electricity Corp (Zesco) said they signed at 210.4 mm rand loan agreement for upgrading Zesco's infrastructure.
"This loan is the first investment by the DBSA in Zambia in terms of its extended mandate in SADC (Southern Africa Development Community) and focuses specifically on infrastructure development," the DBSA said.
The loan will form part of Zesco's $ 198 mm power rehabilitation programme, which includes support from the World Bank, European Investment Bank, Agence Francaise de Developpement and the Zambian government.
The upgrading of Zambia's electricity network and generating capacity will allow Zesco to supply cheap, efficient electricity to stimulate economic growth in the country.

Source: not available
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