Cabinet approves $114m loans – Kambwili

Cabinet has approved acquisitions of loans worth 1-hundred and 14 million dollars from the World Bank and Africa Development Bank –ADB.

The loans will be used to finance the rehabilitation of Kariba Dam being undertaken by Zambia and Zimbabwe.

Chief Government Spokesperson, CHISHIMBA KAMBWILI this afternoon told a media briefing that cabinet approved to contract a 75-million dollars loan from the World Bank and 39-million dollars from ADB.

Mr KAMBWILI says the project is critical to the region hence should urgently be undertaken to avoid potential emergency situations.

He says Zambia decided to borrow a huge sum because Zimbabwe does not have the capacity to pay back.

Mr KAMBWILI says government will therefore lend the money to Zambezi River Authority who are running the dam and have the capacity to pay back.

Meanwhile Mr. KAMBWILI who is also Information and Broadcasting Services Minister says Cabinet has also approved the contraction of a 15.5-million dollar loan from ADB to implement phase 2 of the National Rural Water Supply and Sanitation Project in Western
Province.

 

He says 16 districts will benefit from the project meant to help provision of water and sanitation to the province.

The Minister adds that there have been various concerns on lack of development in Western Province hence government wants to take development there and contribute to job creation and good health.

And Mr. KAMBWILI has revealed that Cabinet has recommended that he informs the nation about its decisions within an hour of finishing cabinet meetings as a way of improving flow of information to the masses on its decisions to improve the country.

He says he expects criticism but should however be constructive.

Mr. KAMBWILI says Cabinet also approved the appointment of 9 board members of the Zambia Revenue Authority whose names will be communicated when they are written to.

ZNBC