The Zambian Electricity Corp (Zesco) has signed a deal with the Development Bank of South Africa that will allow Zesco to upgrade its infrastructure, Reuters reports. The loan is the first by the South African bank under the terms of its mandate in the Southern Africa Development Community.
The loan will support part of Zesco’s $198 million power rehabilitation programme. Other donors include the World Bank, The European Investment Bank, Agence Francaise de Development and the Zambian Government. The project aims to improve the generation and delivery of power in Zambia in order to stimulate economic growth.