Zimbabwe’s second-largest city will borrow from the African Development Bank to upgrade and repair its ailing water and sewage works, the state-controlled Chronicle said, citing a report from the city council’s offices.
The $37 million being released to Bulawayo will ease the city of 1 million’s chronic water problems, the Chronicle said, adding that the loan had been approved by the AfDB.
Bulawayo in western Zimbabwe is in a low rainfall area often affected by drought. The city pumps water from five dams and needs an estimated $600,000 to repair borehole water pumps.
The Bulawayo City Council may engage Loita Capital Partners to raise an additional $26 million to finance further water and sanitation projects, the Chronicle also reported.
©2015 Bloomberg News
COMMENTS 0
You must be signed in and an Insider Gold subscriber to comment.
SUBSCRIBE NOW SIGN IN