The World Bank agreed on Tuesday to a $75.5 million facility with Zambia to boost electricity generation and said the mineral-rich country required up to $2 billion to meet growing power demand.
Kapil Kapoor, the World Bank country manager for Zambia, signed the deal with Zambia’s Finance Minister Ng’andu Magande. Kapoor said 18,000 new households would be connected to the national power grid.
Only 20 percent of Zambia’s 12 million people have access to power and only three percent of those are in rural areas, government data showed.
The government plans to raise access to power to 50 percent of the population by 2030.
Kapoor said there was increasing demand for power in Zambia due to new copper mines and increased economic activity.
The cash will help build smaller hydro power stations, transmission and distribution of power facilities.
Kapoor said some $33 million of the total amount would be funded by the International Development Association of the World Bank.
Officials say Zambia has up to 1,650 megawatts generation capacity but currently generates only 1,400 megawatts of power as a result of a breakdown of some equipment.
Reuters
Zambia one – viva RB
This is the development we want,hope no Sisala load shedding.More will be built as Sata enters plot one.Mwamukolooooo! Pabwatoooooo!
‘Kapoor said there was increasing demand for power in Zambia due to new copper mines and increased economic activity’ – sindine nakamba. Bene beka ba World Bank.
MMD chabe bane, don’t gamble with Poor Finishers(PF) malabisi. These gains will go down the drain if you make that mistake.
Documented evidence, mufuna chiani kansi imwe anthu?
What are the conditions of pay back?
Yes what is the interest rate?
You are selling our country to World Bank. these guys interests are in getting all the cheap resources from Zambia. Look elsewhere for financial help than world Bank IMF and the like. Why sell the country so short!!!World Bank and IMF are not good friends for developing nations, Soon they will tell you to privatise ZESCO, Zamtel etc to pay them back. Watch out
Maybe they think if they borrow enough money they will get a HIPC “success” again
Iwe #6…Dr in what? Traditioanl dr iwe …Where do you think you will get money to upgrade power generation…from your pocket.Go back to school and learn how projects are financed. Ma Dr ya malabishi
RB for Plot 1
ayoonse ndalama iyi iyenda mu tumba ya bantu
Viva MMD
ZESCO was capable of supplying power to all industries. But because it has become the source of funding for the successive ruling parties recapitalization was shelve thus rendering the machines out of date due to disreapair. What ever money is pumped into Zesco if not [prperly monitored will just be another waste.
Investors in mining were promised free electricity as part of their incentive package, now we’re having to borrow money from the IMF to facilitate that promise. Shame. VIVA SATA
I feel pity for you mr Magande,they have realy maginalise you but dont they are not going anywhere. Sata is taking over and just jump in the boat and all will be well as for Masebo(kulibonesha), we dont want her in the boat. We are making final touches to make sure that we arrive safely on 30th october. Upnd guyz continue with your so kod clean man HH and we will see who is who.
Magande should tell people of Zambia in clear terms. It is a LOAN that must be paid back by people from all corners of the country. Calling it a FACILITY masks the truth. Having said this, I hope he is not patting himself on the back. He is mortgaging the country, we warned him to take advantage of the high copper prices, but he did’nt, prefering to go for loans…….What a shame!!!!!
Deee Pamenso kwati ni RB. I think you also have the sleeping sickness. Why are you supporting him? Is the one bringing money into the country? wake up.
#12 Where did you get that info? Investors where not granted free electricity but lower tax and some no tax at all. not malabish yamene ukamba.
#16 that is common knowledge, that’s why we have load shedding mwe. The smelter is electric, what do they pay for the power? Nikis.
viva RB!!!!!!
Soccer lovers ,Zambia will play Egypt,algeria and Rwanda
No 8, our last three presidents have claimed some doctoral ship and you never asked them even when one was a Grade 7. Dr KK, another form 2, Dr FTJ Another Degree lawyer.
If you know how to read look for this Book by Naomi Klein, The Shock Doctrine pg 164, Davison Budhoo, an IMF senior economist at IMF said structural adjustment programs in Latin America and Africa from 1983 were based on our new mission to have the south ‘privatised’ or ‘die’ towards this end we ignominously created economic bedlam in Latin America and Africa in 1983-88.
RB WAMUYAYA LESA APALE!
I am kind of suprised i thought that 80% is what Zesco cover and only 20% without power. Anyhow whatever the case this is a good move 2030 make it 80% not 50%.
“When civil servants are paid well, the private sector will emulate – that’s how you run a country using brains and not your feet – when you vote for us we will bring back on your table food taken away from you,” he said.
above Quote: by HH
Pipo need to stop thinking with their feet and start using their brains indeed. Whats wrong with withdrawing $100m from our savings of $1.3billion for infrastructure development??
what home can run like this really?? we need to get our house in order and maybe take a leaf from our neighbours SA on ESKOM saga.
geeezzzzzzzzz
More loans again, from who? the devil called the world bank,…do we have amnesia? have we forgetten already!
why not look east for money, almost every 3rd world is shunning the world bank and IMF, look at Angola, only for us to give up our ars.e without any vaseline….
we’re must be thick, we surely never learn, can we surely fail to raise $75 million
@ 25 …Ine
You’re right, surely do we have to borrow $75 million,
is Magande getting a commission for that or what?
and look at the timing of the loan, when we have no prez,
why not wait and sign it in 2 weeks time when we a have a prez,
this stinks!!!!
VIVA SATA VIVA
Fellow country men and women, Zambia is pressed between a wall and a hard rock.These elections are like chosing to die from a gun or a machette. Sata, HH, Miyanda are all one man show. They all look good to see, but that’s where all goodness end. They don’t have credible people around them. Meanwhile Banda has too many Vultures around him waiting in patience. Even KK has realized there’s a back door through which UNIP can silently sneak in with Tilyengi. Even Cimbwi Nevers has smelt blood. Too many Vipers are arising to take a bite through Banda. I wonder if he ‘d control them. He had trouble with High peaks just recently. Please vote wisely. “vote for me if in doubt”.
“Confessions of an economic hitman”, a must read book for our politicians!!!!!
This is utter rubbish. They are just calling it a multi million dollar facility without say under what conditions gvt has agreed to this. These guys are continuing mortgaging the country’s future. Our external debt was reduced to below $500,000, but at the rate we are borrowing money, we will be back in deep debt before long. Sustainable wealth creation should be through allowing entrepreneurs to access funds so that they can be generating power and sell it to Zesco which should just concetrate on distribution. The problem with getting money from such institutions is that it gives them a reason to interfere in the affairsa of the nation. When will we ever learn?
I AGREE WITH #4 AND OTHERS, WHY NOW? THEY WANT TO HOLD SATA IN CONTEMPT OF THESE LOANS AND DESTROY THIS COUNTRY LIKE THEY DID TO ZIMBABWE. THIS IS A GIMMICK. A WHITE MAN WILL NEVER GIVE YOU MONEY JUST LIKE THAT, THIS IS WHAT THEY DID TO MUGABE AND IF YOU DONT PAY BACK AS SON AS THEY WANT THEY CALLYOUR PRESIDENT A DICTACTOR AND INCITE WAR IN YOUR COUNTRY. MIND YOU THE CIA RUNS WOLRD BANK AND IMF
we are educated for nothing my country men. We do not learn from the past .The same world bank and the IMF forced to sell those mines so that there nationals can come buy them and at the same time asked our useless leaders to give them incentives this total nosense. We need to be wise and have leaders with wisdom to lead this country . otherwise we are doomed again with the oil we discovered the world bank will again come and tell us what to do with our oil. The same world bank and the IMF have shares in these same mining companies.
mwatampa ifi ma loan!
Yes #5. Give us the conditionalities attached. Mwebantu dnt get too excited. Remember when we had to sign in order to be relieved of the debts we had????
iwe chi magande. watampa ukukongola futi. kanshi ninshi ifwe amazedians. we never learn when other countries are doing away with world bank and IMF we are embracing them as if they hae ever done anything positive for this country. they will sell the debt to another vulture fund and we will cry foul. please lets avoid these debts and make generation of power by private secters conducive.
There it comes again-ZESCO! ZESCO! Fellow country men and women, time and again I have expressed my disapproval of ZESCO moves and that ZESCO is a financial ‘bottomless’ pit. The tax-payers will have to pay this money while Sisala and his fellow ‘fat-cats’ enjoy the cream now. All the past loans obtained through and for ZESCO have not provided the expected outcome; Kariba North Bank upgrade, Kafue ++ These projects have not been evaluated and yet mnore loans are sought. We need to open our eyes as ZESCO may be Zambia’s Wall-Street. Why does the govt support this company and yet they claim it is supposed to be run as an independent company? Wake up fellow Zambians-baletulila masuku pamutwe
#11 walasa boyi