Blog Archives

Million dollar loan agreement for southern African road rehabilitation

The Development Bank of Southern Africa (DBSA) has concluded an historic loan agreement of US$ 262 million with the Zambian Road Development Fund Agency (RDFA) for the rehabilitation of five priority roads, three of which form part of the Trans African Highways (TAH) route running from Cape Town to the DRC’s Katanga Province and onwards to Kinshasa.
Highlighting the strategic significance of the roads being developed through the DBSA loan, Dr Situmbeko Musokotwane, Minister of Finance and National Planning in Zambia, explained that the roads to be rehabilitated link up parts of Western, North Western and Southern Zambia to the western side of the North South Corridor, opening up economic trade routes with Angola, Botswana, DRC and Namibia.
He added that by developing the road infrastructure in Zambia, areas of high economic potential normally out of reach would become accessible and attract potential investors in agriculture, mining, tourism as well as unlock new opportunities for industrial developments.
Zambia is a key transit country in the North South Corridor, as it sits in between and borders eight countries in the region. Last year, under a special agreement with COMESA, SADC, the EAC and the UK Government as a lead donor, the DBSA established a new infrastructure trust fund in excess of US$ 100 million to give a big push to infrastructure development projects along the north south corridor.

Liesl Venter

FTW Online

Tagged with: ,
Posted in News
One comment on “Million dollar loan agreement for southern African road rehabilitation
  1. Santa says:

    This is exactly an issue I have to find more information about, thanks for the posting.

Leave a Reply

Your email address will not be published. Required fields are marked *