Government has signed a $104.1 million loan and grant agreement with Denmark to support the Kafubu sustainable water and sanitation improvement project.
As part of the financing, Nordea Bank of Denmark has provided a loan facility of US$70.1 million while the Danish Agency for International Development (DANIDA) has contributed a grant amounting to US$34 million.
Minister of Finance Alexander Chikwanda signed on behalf of the Zambian government while Nordea Bank Vice President Henrik Brink signed on behalf of the Danish government.
Speaking during the signing ceremony in Lusaka today, Mr. Chikwanda said the loan will aid the provision of water and sanitation infrastructure as well as develop skills to ensure effective water resources management.
Mr. Chikwanda said government is committed to improving the provision of clean water and sanitation for economic growth and improved livelihoods in the country.
He further said the project will improve water services to an additional 100,000 people where the water and waste water facilities are either non-existing or in a progressive state of physical depreciation.
The developmental project will target Ndola, Luanshya and Masaiti districts on the Copperbelt province and it will be implemented by the Kafubu Water and Sewerage Company limited.
And Mr. Chikwanda thanked Nordea Bank for the loan facility and DANIDA for the grant which he said will recapitalise Kafubu water and sewerage company.
He said the development will also enable the company to enhance its income generating capacity while providing clean water and sanitation for the people.
2015 vote PF ( Edgar )
I thank you
Hey!! zambia we’ve borrowed more than too much and in the near future we are going to be broke as copper prices continue to go downhill.The next governments will be burdened with paying back loans instead of developing zambia.PF please reduce your borrowing.by the way this loan chikwanda is signing for was rejected by sata.
That’s a lot of loot for “gang leaders” to throw about and buy some pangas and shake shake for the “new Katondo boys”
And then you foolish PF carders should say HH wants to auction our country? Chikwanda you’ve been minister from UNIP it’s about time you got out of politics. You failed to make it then, what makes you think you’ll succeed now?
Poor Management and stealing at Kafubu Water and Sewerage Co. Nothing will change.The Managing Director is a Pf incompetent cadre. Change management. They are struggling to pay salaries.
PF all they know is borrow, this is the price of electing leaders with no clear history of running business successfully. PF will leave a record high debt which will take many generations to pay back.
We are in problems,we saw roads and other ares dug by the same kafubu water in Ndeke Ndola in2007-2009 with their foolish chinese contractors,But shame upto now ndeke is still with water issues.worse still with the coming up of new residential area like Mitengo,Ndeke Extension and Jacaranda villa just to mention a few.I wonder were these funding go!Geedy and selfish leaders just share the monies and do poor projects just to blind fold people.Shame on you useless cadres!
That money will be channelled to campaigns. we know the likes of Chikwandas.
But be ready to account for the same coins you are borrowing grandpa
Management at kafubu water must be changed.The current management has attracted alot of legal suits due to their carelessness in handling company affairs.The managing director Anthanacious kasuba Mwaba is incompetent to say the least.They are struggling even to pay salaries.