World Bank Gives Zambia $292M for Interconnector

By Mwila Nsofu

The World Bank has given the Zambian government a new grant of 292 Million United States Dollars under the Zambia – Tanzania Interconnector Project.

The financing will help Zambia to access more sustainable and affordable energy through the Zambia – Tanzania Interconnector Project -ZTIP.

ZTIP Project also complements regional and national efforts to address the long-term sustainability of the energy sector and support universal access to electricity.

World Bank Country Manager for Zambia ACHIM FOCK says the power sector in Zambia faces significant financial viability issues, hindering economic growth.

In a statement o ZNBC News, Mr. FOCK said through the Zambia – Tanzania Interconnector Project, the World Bank will partner with Zambia to increase power transmission capacity between Zambia and Tanzania, and therefore between East and Southern Africa.

And World Bank’s Energy Practice Manager for Eastern and Southern Africa, YADVIGA SEMIKOLENOVA said Zambia, will strengthen its resilience to climate shocks.

Ms. SEMIKOLENOVA said the project will also reinforce the Zambian transmission system required to enable new renewable energy generation projects and the expansion of access.

Of the financing, 245 million is from the World Bank’s International Development Association -IDA, 17-million Dollars from the United Kingdom’s Foreign Commonwealth and Development Office and 30 Million Dollars from the European Union -EU.