The European Investment Bank
(EIB) has given Zambia 75 million Euros, equivalent to K573 million, to finance
the implementation of the Zambia Water and Sanitation project. Finance Minister
Alexander Chikwanda said the loan facility was intended to finance the
improvement of water supply and sanitation amenities in three Copperbelt mining
towns of Mufulira, Chililabombwe and Chingola.
The loan was designed to
recapitalise Mulonga Water and Sewerage Company and would be implemented
through the Ministry of Local Government and Housing to enhance
income-generating capability for the company. Mr Chikwanda said the project
would go a long way in improving the quality of water supply and sanitation to
the people in the towns.
"The finance contract we
have signed today will contribute to the realisation of social and economic
benefits intended for the people of Zambia through increased access to water
and sanitation facilities," he said.
He said the total requirement of
the project was 156 million Euros, which would be arranged through a
co-financing facility.
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