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Zambia,Zimbabwe : KARIBA DAM rehabilitation gets finance from AfDB, WORLD BANK, EU

July 31, 2014

Mateus Magala, African Development Bank (AfDB) resident representative announced that rehabilitation of Kariba Dam is set to commence early next year.

Kariba Dam is located between Zimbabwe and Zambia. According to Magala, top government officials from Zambia and Zimbabwe met the AfDB president Donald Kaberuka in Kariba resort town last week and approved to treat the project with urgency.

The official commented All parties made technical presentations at the meeting which was hosted by the Zambezi River Authority, we agreed that the project is urgent and we need to do the best we can to advance.

He stated that the project would be financed by the European Union, World Bank and AfDB to the tune of US$250 million.

A US$36 million grant would be provided by AfDB from its Zimbabwe office which would be complimented by a US$39 million soft loan from the Zambia side, to make a total contribution of US$75 million towards the project.

The World Bank would allocate an extra US$75 million at the same time the EU was hoped to deliver US$100 million.

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Source: TendersInfo (India)

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