THE European Union (EU) has earmarked over €200 million for investment in the energy sector to help Zambia grow and address challenges in the industry.
Incoming head of EU delegation to Zambia and the Common Market for Eastern and Southern Africa (COMESA) Alessandro Mariani said the EU will continue supporting initiatives in different sectors of the economy to enhance growth.
In an interview on Friday, Mr Mariani said the funding will make great impact in the development of the energy sector.
“There is another sector of concentration of our support which is the energy sector. With the energy sector the resources which have been earmarked for development is €244 million.
The investment in the sector is more relevant today than it was a year ago when the decision was taken to [fund the energy sector in Zambia]. So this shows that there is a vision and willingness by Government and the EU to be working in partnership,” he said.
Mr Mariani said investment in the sector will enable the country accelerate economic growth and improve competitiveness through increased access to clean and reliable energy
He said the funding provides more opportunities for Zambia to continue with its developmental agenda.