An Energy Expert says the US$4 million Zambia has secured from the African Development Bank (AfDB) for Renewable Energy will help cushion the power deficit in the country.
Yotam Mtayachalo told Money FM News in an interview that such initiatives must be supported because the country needs a lot of investment in renewable form of energy.
Mr. Mtayachalo added that he only hopes the money from the African Development Bank will be put to good use so that it can bring out positive results in the energy sector.
“We need a lot of investment in renewable form of energy, because that is the only way we are going to confront the power deficit the country has been experiencing so I think such initiatives must be supported.”
“I only hope that this money from the African Development Bank will be put to good use so that it can bring out positive results in the energy sector because renewable energy is clean energy, it does not affect the environment,” Mr. Mtayachalo said.
He further commended the bank for the gesture.
“So in a nutshell, we want to commend highly the bank and we want them to continue committing more resources to Zambia so that the country is able to combat the power challenges it has been facing for a long time now,” he stated.
Zambia has secured 4 Million US dollars from the African Development Bank (AfDB) for technical assistance to build capacity of financial institutions under the renewable energy financing framework.