The European Union, the World Bank, and the African Development Bank (AfDB) have pledged a total of USD 250 million towards the rehabilitation of the Zambia Kariba Dam.
According to reports, the EU will contribute USD 100 million and the World Bank and AfDB will each contribute USD 75 million to ensure the mobilization of financial resources, to guarantee that power is continuously supplied to the region and to eliminate the risk of flooding downstream in Mozambique, Zambia, Zimbabwe and Malawi.
In a recent report by the Times of Zambia, Donald Kaberuka, president of the AfDB, indicated the importance expressed the urgent need for the quick mobilization of resources to restore the dam and the importance of mutual cooperation between Zambia and Zimbabwe to ensure that an thorough environmental social impact assessment was performed.
“We will give you the maximum support in raising the funds because of the urgent need to carry out the rehabilitation works,” said Dr. Kaberuka, “You should ensure that technical research is carried out to ensure that proper works are done and the environmental social impact assessment is done before you begin to undertake the works on Kariba Dam.”
According to Dzikamai Mavhaire, the Council of Ministers chairperson for the Zambezi River Authority (ZRA) and the Zimbabwe Minister of Energy and Power Development, Zambia and Zimbabwe have funded temporary corrective measures and the Government of Zimbabwe recognized and valued Zambia for their leading role in helping to mobilize the financial resources required for the project.
The Zambezi River Authority (ZRA), which is jointly governed by the Government of Zambia and the Government of Zimbabwe, is committed to utilizing the natural resources in the Zambezi River effectively and sustainably.