The World Bank’s Board of Executive Directors has approved a US$75 million IDA Credit and US$25 million grant from the Government of Sweden to Zambia for the Kariba Dam Rehabilitation Project.
The project aims to assist the Zambezi River Authority in securing the long-term safety and reliability of the Kariba Dam Hydro-Electric Scheme.
The project, with total financing of $300 million, is being co-financed by the African Development Bank and the European Union and will help the Zambezi River Authority, which is responsible for the management of the Kariba Dam, to reshape the dam’s plunge pool and refurbish its spillway, as well as improve dam operations in order to bring it up to international safety standards.
World Bank Vice President for Africa Makhtar Diop says rehabilitation of the Kariba dam is an important component of the World Bank’s larger program for boosting the energy security of Southern Africa.
Finance Minister Alexander Chikwanda welcomed the World Bank’s and Government of Sweden’s financing for the urgently needed rehabilitation works at Kariba.
Mr Chikwanda says government’s top priority is to ensure the dam continues to meet international safety standards.
And World Bank Country Director for Zambia,Zimbabwe and Malawi Kundhavi Kadiresan says the World Bank remains deeply committed to ensuring that the same spirit of cooperation remains the hallmark during project implementation.
This is contained in a statement issued by Zambezi River Authority Public Relations and Communications Officer Mwaka Simbule.
QFM News Zambia