ZAMBIA,EIB SIGN DEAL FOR ROAD EXPANSION

Government has signed a Concession Loan agreement worth 1.1 billion Kwacha with the European Investment Monetary institution for the financing of the titanic North aspect motorway expansion challenge.
The 20 year concession agreement comes with a seperate grant of about nine hundred and 36 million Kwacha.
The mortgage is supposed to finance building of the 162 Kilometer stretch between Mpika and Chinsali, which is section of the titanic North Boulevard expansion aspect motorway challenge.
And speaking after the signing of the agreement, European Investment Monetary institution Head of Division for Sub Saharan Africa, Diederick Zambon stated the financing of the challenge will pork up the aspect motorway transport connection between Zambia, Zimbabwe and Tanzania.
Mr. Zambon stated the enhance of the titanic north aspect motorway ranks as top precedence beneath the European Union’s pattern toughen concept for Eastern and Southern Africa for the duration 2014 – 2020.
And Minister of Finance Margaret Mwanakatwe stated the signing of the agreement is an embodiment of heat members of the family between Zambia and the EU.
She stated the agreement additionally symbolises the continuation of a partnership that began Forty years ago.
Mrs. Mwanakatwesaid the titanic North aspect motorway is an financial aspect motorway which once upgraded will enhance the breeze of products and companies between Zambia and neighbouring international locations.
Meanwhile, European Union Ambassador to Zambia Allesandro Mariani expressed satisfaction that the 2 events hold efficiently negotiated the agreement.

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