EIB working on plans to finance Zambia’s energy sector

The European Investment Bank (EIB) says it is working on plans to finance Zambia’s energy sector for the year 2015 to 2020.

EIB Southern Africa and Indian Ocean Head of division Diederick Zambon has disclosed that Zambia has been performing well with regard the utilization of the loan proceeds for the intended purpose.

Mr. Zambon who could not state the total amount the bank is considering to spend on the energy project, states that the European Investment Bank is looking at possibilities of helping Zambia boost its energy sector.

He notes that Zambia has the potential to generate sufficient power for domestic use and export.

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