US$50m secured for construction of Kalabo-Sikongo-Angola Road
By Mwila Nsofu
Zambia has signed a US$50-million cooperation agreement with the Arab Bank for Economic Development in Africa -BADEA- for construction of the Kalabo-Sikongo-Angola Road Project in Western Province.
The two parties have also signed a capacity building agreement amounting to 500,000 US dollars to facilitate training and development of public officials in finance, trade and energy sectors.
The agreements were signed today in Riyadh, Saudi Arabia, by Finance and National Planning Minister SITUMBEKO MUSOKOTWANE and BADEA President Dr. SIDI OULD TAH, on behalf of BADEA.
Speaking at the signing ceremony, Dr. MUSOKOTWANE said the 50 million United States dollars concessional agreement intends to contribute to achievement of the sustainable development goals on industrial development, innovation and infrastructure.
He said the agreement will also facilitate business ventures aimed at enhancing the country’s prosperity and economic emancipation of people of Kalabo-Sikongo-Angola Border areas.
Dr. MUSOKOTWANE has assured that through the project, remote areas of Western Province will now be better connected with the rest of the country, especially during the rainy and flood season when they are usually cut-off.
The Minister is optimistic that trade between Angola and Zambia will now improve, consistent with efforts to support regional integration.
Dr. MUSOKOTWANE said by fostering regional integration, the Kalabo-Sikongo-Angola Border Area Project aligns with both Sustainable Development Goals and Africa’s Agenda 2063, paving the way for a more prosperous future for the region.
The Minister has described the signing of the cooperation agreements as a true testament of commitment of the two parties to promote sustainable development.
Dr. MUSOKOTWANE also took the opportunity to invite investors from Saudi Arabia and the Middle-East Region to invest in energy, mining and agriculture sectors in Zambia.
Zambia’s Ambassador to the Kingdom of Saudi Arabia, DUNCAN MULIMA witnessed the signing ceremony.
And BADEA President SIDI OULD TAH said the Kalabo-Sikongo-Angola Border Project is a cornerstone of Zambia’s development strategy.
Dr. TAH further said the agreements are a testament to development aspirations.
He said BADEA believes that investing in both infrastructure and human capital is key to unlocking a more prosperous and inclusive future for Zambians.
The enduring partnership between Zambia and BADEA has flourished since 1976.
Financing assistance from BADEA to Zambia has now reached 186.085 million United States dollars covering 22 projects across diverse sectors.
In 1976, BADEA financed the Ndola-Kitwe Road and they were also on hand for the initial phases of the Mongu-Kalabo Road.
Since then, BADEA has continued to support Zambia’s development through various projects in key sectors.
The amount allocated to fund the 22 projects, include 13 in the public sector, six for technical assistance, two for the lending fund, and one for foreign trade financing.
Currently, the only ongoing project relates to the construction of the Cancer Treatment Centre.
This is according to a statement issued to ZNBC News by Office of the Secretary to Treasury.
