France spends 200m euros in 3 sectors
By NATION REPORTER THE French Development Agency (AFD) invested over € 200 million into the Zambian economy by the end of 2017, regional director Martha Stein- Sochas has disclosed.
0s 6tein 6ochas said the money was given to the Zambian government as a sovereign loan for the transport, energy and water sectors.
6peaking when she addressed the media recently, 0s 6tein 6ochas said most of the projects funded under the loan have since been completed.
“The $)' has given government a sovereign loan of over ¼ 00 million in three sectors with the first being the construction of the *reat East 5oad and that project has since been completed awaiting the official commissioning by the 3resident,´ she said.
6he named the project in the energy sector as the financing of the ,te]hi te]hi hydro power project which was commissioned recently.
“2ur latest project is the one we are co financing with .): and the project is being called the southern division which is looking at energy distribution in the southern province.
“$nd our final project is the one with 0ulonga water and 6ewerage &ompany on the &opperbelt,´ she said.
6he however said given the Zambia’s debt situation $)' has since stopped giving the country sovereign loans.
6he however indicated that her organisation would still formulate ways of supporting other projects.
“:hile we will not be able to give Zambia sovereign loans this does not stopping us from being present in the country as we are looking for financing opportunities without the government guarantee and we are since looking at the non sovereign loans.
“2ur plan is to work with state agencies that have solid balance sheets and solid strategic plans that will give us value for the money invested,´ she said.