This came to light at the Signing Ceremony held at the Ministry of Finance Headquarters in Lusaka.
Of the $243 million Loan , $193 million is from the ADB while $50 million is from the Africa Growing Together Fund, a trust fund by the CHINESE Government to support Africa’s economic transformation.
The Africa Growing Together Trust Fund is managed by the Development Bank of Zambia-DBZ.
Finance Minister Alexander Chikwanda signed the Loan on behalf of the Zambian Government.
Mr Chikwanda said the loan is repayable within the period of 20 years and attached with one percent interest.
He said the two hundred and 10 kilometre stretch of the Chinsali-Nakonde Road is an important project as it is part of the Great North Road-a gate to the Far -East where Zambia ferries it copper to CHINA for export.
Mr Chikwanda said the PF government is committed to rolling out infrastructure development to accelerate economic development.
At the same function ADB Resident Representative Damoni Kitabire said his bank has focused on the development of key roads linking the countries with its neighbours.
Mr Katabire cited that DBZ has provided funds for the Nacala Corridor Project, which originates from Port Nacala in Mozambique to Lusaka-Zamba.
He said his bank has financed Feasibility Studies for the rehabilitation of Mpulungu Port to improve communication services on Lake Tanganyika, between Zambia and Burundi.