CHOMBA MUSIKA
Lusaka
THE World Bank has approved a disbursement of a US$100 million grant for phase one of the Zambia National Energy Advancement and Transformation (NEAT) programme for the period 2023 – 2033.
Minister of Finance and National Planning Situmbeko Musokotwane says NEAT is designed to increase financial sustainability, operational reliability and resilience of the electricity sector in Zambia.
The programme, whose total resource envelope over a period of 10 years is US$700 million, is the World Bank’s first energy project in Zambia since 2018.
Dr Musokotwane said the World Bank’s approval of the NEAT programme is timely because it will deliver immediate financial boost to Zesco and support the procurement process for non-hydropower renewables at this critical time when Zambia is experiencing an extensive drought…https://enews.daily-mail.co.zm/welcome/home
WB injects $100m in energy
- March 18, 2024
- 6:19 am
