Europe > Northern Europe > Sweden > The Kariba Dam Rehabilitation Project received a US$100 million cash injection this week.

Sweden: The Kariba Dam Rehabilitation Project received a US$100 million cash injection this week.

2014/12/17

The Kariba Dam Rehabilitation Project received a US$100 million cash injection this week.

The World Bank’s Board of Executive Directors approved a US$75 million International Development Association (IDA) Credit and a US$25 million grant from the Government of Sweden to Zambia for the project.

The project, with total financing of US$300 million, is being co-financed by the African Development Bank and the European Union and will help the Zambezi River Authority, which is responsible for the management of the Kariba Dam, to reshape the dam’s plunge pool and refurbish its spillway, inclunding improve dam operations in order to bring it up to international safety standards.

“Rehabilitation of the Kariba dam is an significant component of the World Bank’s larger program for boosting the energy security of Southern Africa. There is much additional to be done in reaching that goal, but today marks an significant milestone in securing the Kariba dam for the coming decades,” said Makhtar Diop, the World Bank’s Vice President for Africa.
Kariba Dam Hydro-Electric Scheme

Cross-border energy trade made possible by the Kariba Dam Hydro-Electric Scheme is central to increasing access to electricity and lowering costs for millions of people.

The project supports the development strategy of the Southern Africa Power Pool, a framework established in 1995 to provide regional solutions to electricity generation for the member states of the Southern Africa Development Community.

“The Kariba Dam has been in operation for additional than 50 years and the proposed interventions are well timed,” says Marcus Wishart, Senior Water Resources Specialist at the World Bank and Task Team Leader for the Kariba Dam Rehabilitation Project.

“This project represents best technical practices in complex dam rehabilitation and is designed to ensure that adequate attention is given to the environmental and social aspects during implementation as part of the broader program of support to ensuring sustainable, climate resilient development of water resources in the Zambezi River basin,” he concludes.

Related Articles

UNWTO: International tourism – strongest half-year results since 2010
2017/09/09 Destinations worldwide welcomed 598 million international tourists in the initial six months of 2017, some 36 million additional than in the same period of 2016. At 6%, increase was well above the trend of recent years, making the current January-June period the strongest half-year since 2010. Visitor numbers reported by destinations around the world reflect strong request for international travel in the initial half of 2017, according to the new UNWTO World Tourism Barometer. Worldwide, international tourist arrivals (overnight visitors) increased by 6% compared to the same six-month period last year, well above the sustained and consistent trend of 4% or higher increase since 2010. This represents the strongest half-year in seven years.
US LNG exports make European market more competitive
2017/08/27 The European gas market is becoming additional and additional competitive and US exports of liquefied natural gas (LNG) are part of this landscape, Francis Perrin, energy expert, chairman of Energy Strategies and Policies (France) told Trend. “Energy is always a strategic business. Economic aspects are very significant of course, particularly the price of LNG, but nations as well take into account strategic issues. For some Central and Eastern European nations one of the key priorities of their energy policies is the diversification of their supplies, in particular gas imports, in order to reduce their dependence on Russia,” said the expert.
Swedish government rocked by data scandal
2017/07/29 Sweden's right-wing opposition plans a no-confidence vote against the social-democratic government, next revelations that the Transport Agency outsourced IT services to IBM, leading to data such as driving licences or data on military vehicles and protected identities being handled by foreign staff with no clearance.
Swedish PM fights for survival amid IT scandal
2017/07/29 Sweden’s prime minister, Stefan Loefven, is under pressure to resign next it emerged that a government agency mishandled highly sensitive classified data.
Riksbank Unlikley To Follow Ultra Loose Policy Amid Rising Core Inflation
2017/07/15 Sweden's central bank is unlikely to continue its ultra-loose policy in the coming months of this year, as rising underlying inflation points to further krona strength, Stephen Brown, an economist at Capital Economics, said. Data released before this week showed that consumer price inflation held steady at 1.7 % in May, just above Riksbank's forecasts for a slowdown to 1.6 %. However, the CPIF inflation excluding energy, the measure that the Riksbank has recently placed most significance on at the same time as discussing trends in underlying inflation, increased from May's 1.6 % to 1.9 % in June.