Cabinet has approved the Contraction of a 41.5 million US dollar Loan from the Export-Import Bank of Korea for the establishment of a Public Safety and Information System Project in Lusaka.
Chief Government spokesperson Chishimba Kambwili says the loan is meant to improve public safety and security in Lusaka.
Mr. Kambwili says this follows growing concern on the rise in criminal activities as well as the disorderly conduct of some sections of society in the city.
He has told ZNBC news that the loan is highly concessional with interest rate at 0.01 per cent with a repayment period of 25 years, as well as a grace period of 15 years.
Cabinet also approved in principle, the introduction of a Bill in Parliament to amend the Passports Act.
The move is aimed at recognising the International Criminal Police Organisation -INTERPOL- Passport Travel Document as an official travel document for Law enforcement officers travelling and carrying out official duties on INTERPOL related matters.
Cabinet has noted that the increase in international criminal activities require that law enforcement officers in various countries around the world cooperate and work towards in curbing crimes.
Other items that have been approved are the appointment of seven members of the Board of Directors for the Energy Regulation Board and the major outcomes of the 15th Session of the Zambia- Botswana Joint Permanent Commission meeting which took place in Livingstone last year.
Comment:pls dont make scary coment up n down
Loan! Are we not budgeting and planning for anything in Zambia? Is our revenue collecting that bad? Looks like our only source of money is borrowing, but how shall we pay back? Keep borrowing to pay back borrowed money to borrowing again till we won’t be able to borrow anymore?
Money for outgoing politicians to share?
Very generous! Good terms. Does this mean, George Owels 1984, security cameras everywhere, connected to Interpol so they know where we are all times.!
You go to the bog and up pops a camera!!
Don’t mention effects load shedding!
Big Brother is here
How can everything be financed through borrowing? This is not right! PF is causing serious problems for future generations! Even when interest rates are low, for loans in hard currency, the major cost is the exchange losses due to the weakening kwacha! This borrowing needs to stop!
The country is thoroughly broke. It cannot even afford a mere $41 million! Hasn’t Zambia reached the junk status on the Moody’s rating? Or is it unratable because its economy is on its knees? Zambia now is a real banana republic.
It seems every time cabinet meets it is to talk about contracting loans. Is this campaign money disguised in loans for public safety?
we are now tired of your means of stealing for your pockets! government of loans after another!!
So I am guessing a wireless system for emergency services. Just the fire service alone is impeded by so much more. Are we getting trucks, new water source, generators, building new stations or will this wind up being misused as a quicker way to get ED to and from his campaign stops… I mean his visits to see his fellow citizens with snazzy communication for ‘Number 1’ and no broadband for us coz the power is down…
There they go with another loan via an Exim Bank..meaning this was not budgeted and Korean suppliers and contractors will be used win-win for them. Even 40 million can not be budgeted with these reckless morons!!
Why can’t u use the money to build another hydro power station s , our pf leaders ought to be sick in their small brains
THESE THICK NECKED/ BELLIED (P)ATHETIC (F)RAUDSTERS, ARE AT IT AGAIN!!
IT’S THE LAST PLUNDER OF A DYING MULE.
The problem in Zambia has always been, plunder of State coffers pays.
Show me one politician who has embezzled large, & been imprisoned, or served a full term, without a Corrupt acquittal or pardon?? In Zambia Crime pays, hence this scam to fill their pockets before they are kicked out in August.
Even a Xenophobic M0r0n like Donald Trump spoke the truth when he said “These African politicians are so useless, & corrupt, they steal from their own suffering masses, & bank their ill gotten gains in Western countries”. He went on to assert, ” If you want an example of bad governance, & leadership, look no further than Africa” as they always supply a credible…
Continued;
a credible example.
Big Cadre Buf00n Kambwili, & P.F. is what is inherently wrong with BlacK Africa today, & the reason we are the only continent still underdeveloped, lagging in the Stone Age, despite our enormous wealth resource.
and for lusaka alone thats alot of money even to cover the whole zambia
This is the second time the PF government is borrowing for the same project, what happened to the first money is where Kaizer Zulu, RATSA boss and crooks stole and Late Sata fired Zulu. Now he is back in fore front pusinh for same, Lungu no clue allows it coz he is part of the Pathetic Thugs who don’t care what happens to our grand children.
Day light robbery ba chimbwii aba…VIVA HH 2016
When we say PF only know how to borrow, this is what we mean. They need to borrow because they get commission all along the chain of borrowing, choosing a project, then awarding the contract.
That is how PF are enriching them selves. Lungu is part of this swindle.
Then you have their kaponya caders on this blog praising the low payment terms. It is theft by a sitting GRZ.