Zambia will resume work on its power line project connecting it to Tanzania, forming one of the world’s largest energy markets, a senior World Bank official announced on Friday.
The Zambia–Tanzania Interconnector Project, set for completion by 2028, will be funded with $320 million from the World Bank, the European Union, and Britain. The remaining $298 million for the project will be covered by a World Bank grant of $245 million, according to Zambia’s Acting Finance Minister Chipoka Mulenga.
Originally proposed over a decade ago, the project faced delays due to various factors, including the COVID-19 pandemic and Zambia’s debt default in 2020. However, after striking a deal with bondholders, Zambia’s government is pushing forward with the initiative.
World Bank’s Achim Fock emphasized that the integrated power market between Southern and East Africa would lower electricity costs, enhance energy security, and open new trade and investment opportunities across Africa.
