Message Mar 14 Jan 2014 13:11

AfDB to give Maamba Collieries $150m

AfDB to give Maamba Collieries $150m
January 14, 2014
Maamba collieriesBy NELLA MUKALENGE
THE African Development Bank (AfDB) says it will soon disburse the US$150 million loan to expedite construction of the 300 megawatts Maamba Collieries thermal plant.
AfDB country representative Freddie Kwesiga said the loan allocated to Maamba Collieries for the construction of the coal power plant is the highest investment the bank has made through the private sector window in Zambia.
Dr Kwesiga said negotiations are still going on with other financiers on the disbursement of the funds.
He, however, could not state when exactly the funds will be disbursed but indicated that negotiations will soon be concluded to allow quick disbursement of the funds.
He said in an interview that efforts are being made to ensure that the funds are quickly disbursed as the project is on-going.
“For the private sector, once the board approves the money, there are negotiations that take place between approval and disbursement. We have not yet signed all the documents.
“We are working with other financiers such as commercial banks, Amalgamated Bank of South Africa (ABSA) and Nava Bharat to ensure that the funds are disbursed as soon as negotiations are concluded,” he said.
Dr Kwesiga said the funds are meant to generate the needed power to boost Zambia’s economy and solve environmental disasters at the plant.
He said infrastructure development still remains a priority for the bank and that AfDB will continue to invest more towards support for private and public infrastructure in the Zambia.
Last year, the AfDB approved US$150 million senior loan to finance the construction of the US$800 million coal-fired power plant and the revamping of the Maamba Coal Mine. ... ries-150m/
Ce que l'on conçoit bien, s'énonce clairement, Et les mots pour le dire arrivent aisément. BOILEAU