Zambian eurobond money to go to power infrastructure

• 11 years ago (2013-04-09)
• Junior Isles

Africa 303 Europe 1061

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The Zambian government has given Zambia Electricity Supply Corporation Limited (ZESCO) $255 million of its $750 million eurobond to invest in power generation and distribution.

Around $30 million of the $255 million has been allocated for the Itezhi-tezhi hydropower station, with an additional $60 million expected for the same project.

Minister of Mines, Energy and Water Development Yamfwa Mukanga said the Zambian government is committed to ensuring that the country has reliable power supply to spur economic development.

“We [government] have given Zesco $255 million because government wants to see how best Zesco will execute all these projects. We are together and we want to ensure that as a parent we provide for our children,” he said.

Mr Mukanga said that government would make sure that Kariba North Bank and Itezhi-tezhi power projects are completed within the planned time frame, and that Kafue Lower hydropower project is completed when the Patriotic Front is still in power.