Wednesday, 19 December 2012

Government And The African Development Bank Signs A Loan Worthy $55million To Support The Itezhi Tezhi Hydro Power And Transmission Line Project

Government And The African Development Bank (Adb) Have Signed A Loan Worthy $55million To Support The Itezhi Tezhi Hydro Power And Transmission Line Project Through The Construction And Operation Of A 120 Megawatts Hydro Power Plant At Itezhi Tezhi Dam Along The Kafue River.

Once Completed, the Project Will Significantly Increase Zambia’s Power Supply Which At The Moment Stands At 1800 Megawatts.
The Increase In Electricity Generation And Distribution Will Serve To Reduce The Erratic Power Supply Which Currently Is Not Adequate And Results In Load Shedding.
ADB Has Been A Significant Partner To Zambia, Providing Support In Infrastructure, And Strengthening Management Systems In Various Sectors.
Some Of The Contributions Made By Adb Include The Development Of The Victoria Falls Power Transmission Project In The Energy Sector, The Establishment Of Lukanga Water In The Water Supply And Sanitation Sector Amongst Others.
The according to Zambia’s finance minister Alexander chikwanda Government Will Continue To Value The Contributions And Expects That The Partnership Will Grow And Provide Opportunities For Further Cooperation.
Mr chikwanda Says It Is Government`S Hope That The Preliminaries Necessary To Launch The Project Will Be Met So That Site Works Can Commence  For The Benefits To Accrue To The People Of Zambia.
and African Development Bank Vice President For Operations Infrastructure, Private Sector And Region Integration Gilbert Mbesherubusa Disclosed That  Currently, The Bank Has Funded Over 130 Projects In The Country Amounting To Approximately $1billion.
Mr. Mbesherubusa Says This Has Been Impacting Zambians In Various Sectors Such As Health, Education, Agriculture, Water Supply And Sanitation, Roads And Budget Support.
He Says The Itezhi-Tezhi Hydropower Plant Will Improve The Reliability Of Electricity Supply And Enhance Energy Security In Zambia Adding That The Project Will Create 700temporary And 120permanent Jobs In The Region.
He Says Out Of An Installed Capacity Of About 1,985megawatts, Only About 1, 200 Megawatts Are Currently Available And With A Peak Demand Of About 1,600mega Watts And A 10percent Required Reserve Margin, The Country Has A Deficit Of About 570 Megawatts Which Represents Half Of What The Region Needs.

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