African Development Bank Approves Loan To Develop Zambian Lake Tanganyika

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In an effort to further develop the local economic infrastructure and available human resources, the African Development Bank (AfDB) Group has approved a USD 22.49 million loan aimed to improve the infrastructure of Zambia’s Lake Tanganyika.

According to a statement released by the AfDB, the redevelopment project will promote the sustainable and equitable management of the available natural resources and will strengthen market connections and the development of value chains for these natural resources.

“The project should have a positive, virtuous impact on the conservation and preservation of the area’s wildlife and heritage and on specific resources, particularly the national park, which can play a role in local economic development,” reads the statement.

In addition to the loan from the AfDB, the Global Environment Facility (GEF) has also committed USD 7 million to the project with an additional USD 190,000 t0 be contributed by the Zambian government.

The development project, which will be implemented in the two districts of Mpulungu and Nsama over a five year period,  is in line with the larger Zambian Vision 2030 which aims to the develop Zambia into a prosperous middle-income country by 2030.