Zimbabwe: A loan to upgrade electricity infrastructures
6 August 2009
A loan of 80 million Dollars has been granted to the Zimbabwe national electricity company, it was learned on Tuesday, 4 August 2009.
The financing was obtained from the Development Bank of Southern Africa, which specialises in the financing of infrastructure projects.
The national electricity company, the Zimbabwe Electricity Supply Authority (ZESA) is going to sue these funds to invest in renewal of equipment and increasing production capacities.
The Minister of Economic Development, Elton Mangoma, explained that this money would likewise serve to pay for supplies of coal and help pay off a debt due to Mozambique for the provision of electricity.
The loan should also allow Zimbabwe to reduce its energy dependence on its neighbour country and improve the supply of electricity over the whole of its territory.<br/>