Govt and EIB signs a 102.5 million Euros concessional Loan agreement t

The Zambian Government and the European Investment Bank (EIB) have signed a 102.5 million Euros about K11.5 billion concessional Loan agreement to go towards the development of sanitation infrastructure under the Lusaka Sanitation Programme.

The EIB will further mobilize an additional a 4.5 million Euros grant to strengthen the project implementation capabilities.

Speaking during the signing of the loan agreement, Finance Minister Felix Mutati says the highly concessional loan will be disbursed over a period of up to 20 years

He says the loan will enable government meet the goal to at least provide water and sanitation services to in excess of two million people in Lusaka.

Mr. Mutati says this will also provide the capital and its surroundings with both an adequate drinking water supply and a high quality sustainable sanitation system.

Speaking earlier, Lusaka Water and Sewerage Company (LWSC) Acting Managing Director Jilly Chiyombwe says the new facilities will meet the people’s drinking water needs, while increasing production capacity, improving sanitary conditions and protecting water resources.

He says the provision of adequate water and sanitation services will improve Lusaka’s public health outcomes.

And European Investment Bank Head of Regional Representation Tom Anderson says the bank is delighted to be financing this sustainable development project, which forms part of its priority action in support of Zambia.