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Friday, 27 October 2017

EU allocates over €484 million to projects to Zambia

The European Union (EU) has allocated over 484 million Euros under the 11th European Development Fund (EDF) to projects in Zambia. Zambia’s Secretary to the Treasury Fredson Yamba said the EU has disbursed the funds towards sectors such as Agriculture, Energy, Governance and Infrastructure for the period 2014 to 2020. This is according to a press statement made available to ZANIS by First Secretary Press and Public Relations at Zambia’s High Commission to South Africa Naomi Nyawali. And Zambia has sped up the absorption of over 80% of the 484 million Euros grants allocated to Zambia under the 11th European Development fund EDF. Mr. Yamba added that 64 million euros has been channelled towards the rehabilitation of the Kariba dam while 65 million euros has been allocated to the rehabilitation of the Lusaka Transmission and Distribution line. The Secretary to the Treasury said 40 million euros has been channelled towards the promotion of renewable energy production in the energy category.

Source: Lusaka Times