PF govt to get $41.5m loan

The ever borrowing and broke outgoing PF government has contracted another loan for ‘public safety’ in Lusaka.
Chief government Spokesperson Chishimba Kambwili told the PF controlled ZNBC today Thursday that Cabinet has approved the Contraction of a 41.5 million US dollar Loan from the Export-Import Bank of Korea for the establishment of a Public Safety and Information System Project in Lusaka.
Kambwili says the loan is meant to improve public safety and security in Lusaka claiming that this follows growing concern on the rise in criminal activities as well as the disorderly conduct of some sections of society(PF cadres) in the city.
He said that the loan is highly concessional with interest rate at 0.01 per cent with a repayment period of 25 years, as well as a grace period of 15 years.
This is not the first time that the PF government is borrowing money for the so called public safety project.

Share this post