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Wednesday, 05 October 2016

EIB invests 92m euros in Zambia

The European Investment Bank (EIB) has invested over €92 million in Zambia. This is contained in the bank’s annual report issued to Zambia’s High Commissioner to South Africa, Emmanuel Mwamba, by the head of regional representation, Carmelo Cocuzza in Pretoria. In its 2015 annual report, the records show that EIB supported Zesco with a €78 million loan for its power transmission and distribution network project. The EIB also supported small and medium enterprises with finance facilities in Zambia through a €14 million line of credit managed by FNB Zambia. The EIB is the largest multilateral borrower and lender in the world and is active in 160 countries, including Zambia.

Source: daily-mail.co.zm