BY EDMUND SMITH-ASANTE
The African Development Bank (AfDB)
Group has approved a grant amounting to US $3.04 million to finance the
Kholombidzo Hydroelectric Power Plant (HPP) Feasibility Studies in Malawi.
Out of this amount, the Government
of Malawi will contribute US $0.23 million (7%) of the total study cost of US
$3.27 million.
The grant, which was approved on
March 25, 2013, aims to produce a full
bankable feasibility study for the future development of a power generation
project to contribute to the expansion of electricity generating capacity in
Malawi, which would ultimately help to address electricity shortages and enable
the delivery of reliable energy and electricity access expansion in Malawi,
according to AfDB.
In a release issued Tuesday, March
26, 2013, the bank explained that the study is consistent with the objectives
of the Malawi Growth and Development Strategy II (MGDS II), which emphasises
the importance of putting in place a foundation for long-term economic growth
through improved infrastructure and investment climate.
“By supporting the study, the
African Development Fund will be contributing to facilitating investment in the
provision of electricity needed for supporting economic growth and poverty
reduction. The initiative also presents an opportunity for knowledge sharing
from previous experiences in other member countries,” AfDB’s release said.
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