Govt courts World Bank for Morupule loan

"The proposed World Bank loan will finance the purchase and installation of three main transformers, transmission line from Morupule B to Phokoje and water pipeline from new Paje/Mmashoro wellfield to the project site," Minister of Finance and Development Planning, Kenneth Mathambo, said yesterday.

He said that the Botswana Power Cooperation has already secured a loan for P5.6 billion from consortium consisting of Standard Bank and the Industrial and Commercial Bank of China (ICBC) to finance part of the cost of the project "The loan is guaranteed by the government of Botswana and the World Bank has provided a Partial Credit Guarantee," Mathambo said.