Zambia: €200m French-Funded Projects Completed

The French Development Agency (FDA) invested over € 200 million last year to improve the Zambian economy in various sectors.

Regional director Martha Stein- Sochas said the money was given to the Zambian government as

a sovereign loan which was given out under the transport, energy and water sectors.

Speaking at a media at a briefing in Lusaka, Ms Sochas said most of the projects funded under the loan have since been completed.

"The FDA has given government a sovereign loan of over €200 million in three sectors with the first being the construction of the east road and that project has since been completed awaiting the official commissioning by the President," she said.

She named the project in the energy sector as the financing of the Itezhi tezhi hydro power project which was just commissioned recently.

"Our latest project is the one we are co-financing with KFW, the project is being called the southern division which is looking at energy distribution in Southern province.

"And our final project is the one under the Mulonga Water and Sewerage Company on the Copperbelt," she said.

She however said given the Zambia's debt situation FDA has since stopped giving the country sovereign loans adding that however they would still formulate ways of supporting other projects.

"While we will not be able to give Zambia sovereign loans, this does not stop us from being present in the country as we are looking for financing opportunities without the government grantee and we are since looking at the non-sovereign loans.

"Our plan is to work with state agencies that have solid balance sheets and solid strategic plans that will give us value for the money invested," she said.

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