WB disburses $100m for energy project

19/03/2024

By JOSEPH BANDA – THE World Bank has disbursed a grant of US$100 million to Zambia for the first phase of the $700 million National Energy Advancement and Transformation (NEAT) programme for the period 2023 to 2033.Finance and National Planning Minister Situmbeko Musokotwane, said the NEAT programme was designed to increase financial sustainability, operational reliability, and resilience of the electricity sector in Zambia.This is according to a statement issued by the Office of the

By JOSEPH BANDA –

THE World Bank has disbursed a grant of US$100 million to Zambia for the first phase of the $700 million National Energy Advancement and Transformation (NEAT) programme for the period 2023 to 2033.

Finance and National Planning Minister Situmbeko Musokotwane, said the NEAT programme was designed to increase financial sustainability, operational reliability, and resilience of the electricity sector in Zambia.

This is according to a statement issued by the Office of the Secretary to the Treasury yesterday that the programme, whose total resource envelope over a period of 10 years was $ 700 million, is the World Bank’s first energy project in Zambia since 2018.

Provided by SyndiGate Media Inc. (Syndigate.info).

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