Chronicle EditorBusiness Reporter
THE African Development Bank (AfDB) through its African Development Fund, has extended a US$2,5 million grant to support the regulatory environment for electricity markets in Sadc and the Common Market for Eastern and Southern Africa.
The two regional blocs to which Zimbabwe is member, cover 28 countries that also include Zambia, Eswatini, Malawi, Kenya, Djibouti, Egypt, and Rwanda.
In a statement, AfDB said the grant, which is in tranches of US$1,5 million and US$1 million will be sourced from the African Development Fund to Comesa and Sadc respectively.
“The AfDB group board has approved grants of US$2,5 million to advance intra-regional harmonisation of electricity regulations and drive cross-border power trading in the Comesa and Sadc regional blocs.
“The projects will be implemented through the Regional Association of Energy Regulators for Eastern and Southern Africa (RAERESA) and the Regional Energy Regulators Association of Southern Africa (Rera) respectively,” said AfDB.
Online Reporter