Africa Development Bank – AfDB advisors to the board are currently on a study tour to appraise the bank financed infrastructure projects and programs. This was established in a note shared by sources close to the matter. AfDB team led by former Angolan Finance Minister now Senior Advisor to African Development Bank Mr. Joao Luis Ngambi were treated to a cocktail by Zambia’s MinFin Minister Margaret Mwanakatwe in Lusaka on 19 March.
I am confident that your recommendations from the study tour will assist in enhancing the banks portfolio in Zambia,” Mwanakatwe said in her speech.
The AfDB has since 1971, committed over USD$1 billion to Zambia in assistance through support to public sector infrastructure projects which include agriculture, water and sanitation, energy, social sector, health plus multi sector primary support. The predominantly financing modalities are project grants and concession loans.
When we come on a mission like this, it is to get a better idea of what is happening in the implementing of projects. This will provide us with learnings, guidance on how we can improve activity of the bank in the country after interacting with people from various sectors. This will also allow us better advise our executive directors,” delegation leader Joao Luis Ngimbi said.
Some key projects that AfDB has funded include the 120MW Itezhi Tezhi hydro electric power plant, Kazungula bridge and a number of road projects.