La Banque Mondiale accorde US$ 114 millions / la SADC
The US-based World Bank has approved US$144 million in loans and grants for regional projects, according to a World Bank regional director for Angola, Malawi, Mozambique, Zambia and Zimbabwe, Michael Baxter.
Baxter said the new funding is an increase on 18 projects benefiting from his institution in Mozambique following the World Bank’s commitment of 800 million.
Of this amount, US$93 million will fund the Mozambique-Malawi transmission interconnection project, the second phase of the Southern African Power Market Programme that will connect Malawi to SADC\’s Southern African Power Pool (SAPP), allowing a two-way energy trade between the two countries.
An International Development Association (IDA) credit for Malawi is US$48 million, while Mozambique gets US$45 million to construct 135 km of transmission lines and substations for the power sharing venture.
According to Baxter, this will provide Mozambique’s energy sector with a new revenue source and ensure much-needed diversification in Malawi’s electricity supply and allow the export of any off-peak power surpluses.
The deals signed in the Mozambican capital Maputo also envisage assisting small-scale farmers in the central Zambezi River valley in the amount of US$26 as a grant by the Global Environment Facility (GEF).
“The agreements signed today (Friday) sums up US$144 million in credit and grants, most of which is additional or complementary assistance representing the institution’s commitment in various sectors of activities in Mozambique,” Baxter said.
