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EIB support for Zambian regional energy will help achieve MDGs

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Tuesday, 22 May 2012

EIB support for Zambian regional energy will help achieve MDGs

The European Investment Bank (EIB) will allocate US$30 million for the upgrade of a project designed to improve regional energy distribution and double electricity transmission capacity between the Victoria Falls hydro-power station and Lusaka, Zambia. This deal, signed by the Zambian Minister of Finance Alexander Chikwanda, MPs, and senior officials from the European Investment Bank, is expected to help achieve the Millenium Developemnt Goals (MDGs) in that country.
Recognising the importance of electricity for the promotion of sustainable development, the EIB Vice President Plutarchos Sakellaris explains: “Upgrading the Kafue-Livingstone transmission line will assist the Zambian Government’s efforts to ensure that a reliable supply of energy can keep pace with economic growth in Zambia and improve electricity distribution across southern Africa. The European Investment Bank is committed to supporting the Zambian energy sector and contributing to global goals highlighted by the 2012 International Year of Sustainable Energy”.

Source: Waterpower magazine