World Bank to fund Zambia's water project

The World Bank will provide Zambia with 60 billion kwacha (19.35 million U.S. dollars) for the Lusaka Water and Sewerage Company once its improvement project is approved, Sunday Times of Zambia reported.

Managing Director of the company Dennis Mwanza said here on Saturday that the project's implementation has reached an advanced stage and only three stages are remaining towards its approval and financing .

He said the money from the bank will be of great assistance to the company as it was aimed at improving its financial viability and the part of the fund will be channeled to operational costs and capital expenditure.

Source: Xinhua