WASHINGTON, July 17, 2007 - The following project was approved today by the World Bank’s Board of Executive Directors: IDA CREDIT FOR MALAWI: US$48 million IDA CREDIT FOR MOZAMBIQUE: US$45 million TERMS: Grace = 10 years; Maturity = 40 years PROJECT DESCRIPTION: The Mozambique-Malawi Transmission Interconnection Project, the second phase of the Southern African Power Market Program, will connect Malawi to the Southern African Power Pool (SAPP), allowing two-way energy trade between the two countries. This will ensure much-needed diversification in Malawi’s electricity supply and allow the export of any off-peak power surpluses. It will also provide Mozambique’s energy sector with a new revenue source. For more information, please call John Donaldson at (202) 473 1367 or email jdonaldson@worldbank.org |
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