Headline : AfDB nods $2.7bn for economic interventions

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By KETRA KALUNGA – THE African Development Bank (AfDB) Group has approved a cumulative net value of $2.7 billion for interventions across various sectors of the economy in Zambia.This has a direct impact on millions of the people since 1971.AfDB Country Manager Raibil Durowoju said to date, the bank had an existing portfolio of interventions across Zambia of about $1 billion.Speaking during the commemoration of the 60 years of the bank’s operations, Mr Durowoju said Zambia’s first subscription to the bank was seven years after the bank was first opened in 1964.

By JUDITH NAMUTOWE
 - THE Zambezi River Authority (ZRA) has said the feasibility study on the Batoka Hydropower Station has been reviewed. ZRA chief executive officer Munyaradzi Munodawafa said in an interview yesterday that the review on the demo structure, power house and capacity output on the project had been completed. Mr Munodawafa said the authority was currently waiting for the second phase of the Environmental Impact Assessment (EIA). ‘‘We have reviewed the Batoka Hydropower Station feasibility study. The study on the demo structure, power house structure and the capacity output on the project has been completed,’’ Mr Munodawafa said. He said the finalisation of the study and the EIA was expected to be completed in the first quarter of 2015. Mr Munodawfa said consultants were currently working on other processes and thereafter the project committee which include senior Government officials , utilities and ZRA would visit the project this month. He said once all these processes were completed, ZRA would then be able to select the developer for the project, after which the authority would be able to come up with the actual value of the project. Zambia and Zimbabwe signed a Memorandum of Understanding (MoU) to team up and start the Batoka hydropower project which is estimated to cost about US$4 billion. The agreement was signed during the council of ministers held at Kariba in Siavonga recently.

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