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US $10 million from DBSA

    JOHANNESBURG

    The Development Bank of Southern Africa (DBSA) has given its first loan to a private power company, Zambia’s Copperbelt Energy Corporation, ‘Business Day’ said on Tuesday.

    The report quoted a DBSA statement as saying that the US $10 million loan will be disbursed over a 12-year period and will be used to finance the extension of the company’s electricity transmission and distribution infrastructure in the Copperbelt area.
    “The loan agreement was concluded last week and is part of the DBSA’s effort to aid development in the Southern African Development Community,” the statement said.

    DBSA added that the loan would also help provide power to South Africa’s Anglovaal Mining Group’s new US $100 million cobalt processing facilities at Chambishi.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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