Zambia reportedly gets USD 105mn loan from African Development Bank.

By bne IntelliNews January 25, 2011
The Zambian government has signed a ZMK 500bn (USD 105.3mn) loan agreement with the African Development Bank (ADB) for phase two of the rehabilitation of the Nacala Corridor Road project, the Lusaka Times reported. The project involves the rehabilitation of the 114.7km of the Great East Road from Nyimba to Sinda. The development of the Nacala Corridor will shorten Zambia's access to the nearest sea port to only 1,700 km from Lusaka once works are completed, Zambia's finance minister Situmbeko Musokotwane, was quoted as saying. According to the ADB resident representative in Zambia, Freddie Kwesiga, the objective of the project is to provide Zambia, Malawi and Mozambique with improved road transport infrastructure to Nacala Port and improve accessibility of their communities to markets and social services.

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