Zambia and European Commission have signed a EURO 65 million financing agreement for the Lusaka Transmission Distribution Rehabilitation Project. The agreement was signed this afternoon in Brussels, Belgium, between Finance Minister Felix Mutati and European Commissioner for International Development, Neven Minica.
Speaking during a consultative meeting after the signing ceremony, Mr. Minica said the European Commission was delighted to maintain its partnership with Zambia, adding that, it is time the world stopped looking at Africa as an aid recipient but a formidable partner in development and a platform for stronger global trade.
“We are happy with the progress Zambia has made in project identification and preparation but would like to see a greater pace in absorption of 11th European Development Fund [EURO 484 million] resources.
“By end of 2017, Zambia has to access at least 80% of the remaining funds instead of waiting until 2020,” advised Mr. Minica.
“Going forward, the European Commission would like to institute de-risking, concessional facilities, and credit guarantee schemes for private sector investment in Africa,” in this regard, said Mr. Minica, “we will be participating in the Batoka Gorge Investor Conference to be held in Zambia.”
“We have EURO 4 billion under a facility called European Investment Fund, for providing the private sector with guaranteed concessional funds for investment in Africa,” Mr. Minica said.
Mr. Minica also affirmed that the European Commission was committed to investing in renewable energy in Africa and was, therefore, targeting the production of five giga watts [5GW] across the continent to assist in improving the access to electricity and clean energy.
And Mr. Mutati has thanked the European Commission for the EURO 65 million assistance provided under the National Indicative Programme [2014-2020]. The funds will facilitate the connection of more than 63,000 new customers to clean, reliable and affordable energy services.
The Minister his visit affirms Zambia’s commitment to a new and greater level of cooperation with the European Union.
“This agreement will not only facilitate reduction of system loses and improved load management, but also provide the requisite energy for the private sector to up their production and service levels,” said Mr. Mutati.
Mr. Mutati also assured the European Commission that Zambia was taking measures to improve absorption capacity and project implementation efficiency and effectiveness.
Nothing tangible will come out of this kaloba from EU, the money is going straight into stomachs of PF bandits of visionless Lungu with Mutati.
The Euro bond vanished, even all this kaloba~more debt~ from EU will never benefit the poor people suffering poverty, hunger & load shedding. PF bandits have no plans, remember that they are very visionless from top to bottom, ask the self confessed visionless Edgar. On 14~9~14 visionless Lungu of violent & confused PF bandits said that “I have no vision for this country” period.
The Skeleton Key
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Even the malavi mealie meal scandal involving rotten corrupt elements of kaloswe, PF bandits of visionless Edgar have been mute, but trying to wash their filthy images by Dora the explorer Siliti for excuses. This is 2017, how much is mealie meal under PF bandits? Army worms, red locusts, maize borers, load shedding tears with floods iza nyokola njala mwa blind Edgar.
The Skeleton Key
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Headline EU GIVES. Should read LOANS. How and when do we repay,!!!!!!
All this money will be stolen. If the EU don’t want more debt per each Zambian for which no tangible results can be seen, the money should not be dished to PF but should go straight to non-Zambian contractors. PF is just a Ponzi Fvcking scheme.
I would like to welcome these 65,000 new Zesco customers to load shedding. You will pay more money for less power than you get from your mbaula and katolitoli.
With sick empty tins like Davies Mwila you can simply write the cheque to PF Party let them do as the please with it then give they change to ZESCO.
The educated african is the worst kind of african. For he/she does not have a sense of being. All they know is what they have been indoctrinated with. You can give them billions but they wont know how to use to do for a people unless the same mind that poisoned them lays out a plan of action. All we know is to buy expensive luxuries because this way, we self heal and feel worth and equal to the white supremacists. Pity, poor african child.