Zambia Embassy Brussels

Switch to desktop Login

EU gives Zambia 65 million Euros to boost power transmission

http://zebru.org/images/zambian%20finance%20minister%20felix%20mutati%20with%20eu%20commissioner%20for%20international%20development%20neven%20minica%20in%20brussels.jpgBRUSSELS, THURSDAY, 19TH JANUARY, 2017 – Zambia and the European Commission have signed a EURO 65 million financing agreement for the Lusaka Transmission Distribution Rehabilitation Project.
The agreement was signed this afternoon in Brussels, Belgium, between Finance Minister Felix Mutati and European Commissioner for International Development, Neven Minica.
During a consultative meeting after the signing ceremony, Mr. Minica said the European Commission was delighted to maintain its partnership with Zambia. The EU commissioner said it is time the world stopped looking at Africa as an aid recipient but a formidable partner in development and a platform for stronger global trade.
“We are happy with the progress Zambia has made in project identification and preparation but would like to see a greater pace in absorption of 11th European Development Fund (EDF) of about [EURO 484 million] resources. By end of 2017, he added, “Zambia has to access at least 80% of the remaining funds instead of waiting until 2020”.
Going forward, Mr Minica stressed that European Commission would like to institute de-risking, concessional facilities, and credit guarantee schemes for private sector investment in Africa.
He said the EU is delighted at Zambia’s initiatives aimed at attracting private investment, particularly in the energy sector.
“In this regard, we will be participating in the Batoka Gorge Investor Conference to be held in Zambia,” he added. “We have EURO 4 billion under a facility called European Investment Fund, for providing the private sector with guaranteed concessional funds for investment in Africa”.
Mr. Minica also affirmed that the European Commission was committed to investing in renewable energy in Africa and was, therefore, targeting the production of five Gigawatts [5GW] across the continent to assist in improving access to electricity and clean energy.
And Mr. Mutati has thanked the European Commission for the EURO 65 million assistance provided under the National Indicative Programme [2014-2020]. The funds will facilitate the connection of more than 63,000 new customers to clean, reliable and affordable energy.
The Minister said his visit affirms Zambia’s commitment to a new and greater level of cooperation with the European Union.
“This agreement will not only facilitate reduction of system loses and improved load management, but also provide the requisite energy for the private sector to up their production and service levels,” he said.
Mr. Mutati also assured the European Commission that Zambia was taking measures to improve absorption capacity and project implementation efficiency and effectiveness.


Issued by:                                                                              

Lambwe Kachali [Mr]
First Secretary (Press & Public Relations)

Tel: +32 (0)2 343 56 49; Fax: +32 (0)2 347 43 33; Mobile +32 (0) 486 731 267
Email: This email address is being protected from spambots. You need JavaScript enabled to view it. This email address is being protected from spambots. You need JavaScript enabled to view it. Website: www.zebru.org
                                                                                                                                                                                                                         

 

corporate2 Are you sure that you want to switch to desktop version?