Finance
Minister Alexander Chikwanda Announced At A Press Briefing This Morning That
This Will Be Done Using The Money Government Will Raise From The 500 Million
Dollar Bond Which Plummeted To 750 Million Dollars After The Country Issued Its
10 Years Bond Issue.
Zambia Yesterday Successfully
Issued Its Inaugural 10 Years Bond Issue To The Tune Of 750 Million On Account
Of The Exceedingly Large Order Book With A Total Subscription Of 11.9 Billion
Dollars Surpassing The Intended 500million.
This Is Not Only The Largest
Order Book For Sub-Saharan Africa, This Year But Also 5.375 The Lowest Coupon
Which Means The Most Favourable Price.
The Route Taken By Government
To Issue A First Sovereign Bond In The Amount Of 500 Million Dollars To The
International Market Was An Alternative Source Of Financing To Secure Resources
For Service Deliver Particularly For The Road And Energy Infrastructure
Development.
In Accordance With This
Government Also Announced That It Plans To Allocate About 186million Dollars
Bond To The Lower Kafue Gorge For The Operations And Upgrading Of The Power
Station Which Will Be Completed In 2018.
According To Finance Minister
Alexander Chikwanda, The Successful Issuance Of The Bond Is An Ample And
Irrefutable Testimony Of The Confidence The World Reposes In Zambia.
Mr Chikwanda Says This
Affirmation Of Faith By The International Community In Zambia Is Not Only On
Account Of Government’s Management Of The Economy And A Credit For The
Collective Wisdom Of Living Together In Harmony.
he says The
Development Process Of Zambia Will Incline the country Ever More To Seek Recourse To The
International Markets.
he says All
the country'sOur Borrowings Will Be Spent On Growth Promoting Projects And The Social
Sectors Of Health And Education.
"When
We Release The Details Of The Funding You Will Notice A Predominance Of Outlays
To The Power Sector, For Instance $186 Million Will Be Allocated To
Government’s Equity Into The Kafue Gorge Lower Hydro Power Scheme" said the minister.
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