World Bank’s support to the RETRADE Programme, was central to discussions between the Southern African Development Community (SADC) Secretariat and the World Bank, at a high‑level meeting held in Washington, D.C, since Tuesday this week.
The bank committed US$ 292 million under Phase 1 for the Zambian portion of the Zambia–Tanzania Interconnector, and US$ 12 million in technical assistance under Phase 2 to support the Southern African Power Pool (SAPP), the Regional Electricity Regulators Association of Southern Africa (RERA), the SADC Centre for Renewable Energy and Energy Efficiency (SACREEE), and the SADC Secretariat.
The Secretariat currently manages a programme portfolio valued at US$ 31,566,210 across the sectors of Statistics, Climate Resilience, Groundwater Management, and the SADC Regional Energy Transmission, Trade, and Decarbonisation (RETRADE) Programme.
Several matters were also reviewed including programmes in the region’s energy, statistics, and investment climate sectors.
This was done by Nathan M. Belete, the Director of Regional Programmes for Africa, at the Bank, and Elias M. Magosi, SADC’s Executive Secretary.
They reiterated their commitment to supporting integration and development programmes.
62% of jobs in sub-Saharan Africa depend on water.
1.2 billion young people will reach working age in the next decade.
The two organisations are partnering to improve water security for over 1 billion people.
Picture: Supplied