EU And Bank To Finance Kariba Dam Rehabilitation
News: The EU, the World Bank and the African Development Bank (AfDB) are likely to raise about US$250mn to support the Zambezi River Authority (ZRA) with the Kariba Dam rehabilitation in Zambia. The Word Bank and the AfDB will jointly raise US$150mn, while the EU is expected to provide financing of between US$85mn and US$100m for the rehabilitation programme. The EU headquarters will make the financing decision in June, according to EU ambassador Gilles Hervio (allAfrcia). The support will be a grant and the lenders might offer subsidised loans. The works will involve the construction of a temporary dam (Kofferdam) to empty the plunge pool, reinforce the base of the dam and reshape the riverbed so that the energy from the flood waters released through the spill gates can be better absorbed.