Second Scaling Solar Guarantee (WB-P163958)

Countries
  • Zambia
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 20, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Zambia
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 2.80 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 48.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Feb 27, 2019

Disclosed by Bank Nov 27, 2017


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Project Description

The development objective of the Scaling Solar Energy Project for Zambia is to increase solar electricity generation capacity and diversify electricity generation sources in Zambia. The proposed additional guarantee will support the addition of 34 Megawatt peak (MWp), equivalent to 28.2 Megawatt (MW AC). The AF will also involve a restructuring, including (a) renaming of the original project from West Lunga Scaling Solar Energy Project to Zambia Scaling Solar Energy Project aiming to accommodate additional financing project activities, (b) extending the closing date from October 15, 2018 to December 31, 2019, and (c) updating the results framework to reflect the scale up.

Investment Description
  • World Bank (WB)

The Additional Financing (AF) will provide an IDA guarantee in the amount of up to US 2.8 million dollars (an IDA country allocation to Zambia of up to US 0.7 million dollars) and IFC financing consisting of an A Loan in the amount of up to US 12 million dollars, a senior loan in the amount of up to US 12 million dollars from IFC acting as implementing entity of the IFC-Canada Climate Change Program (IFC-CCCP), and U.S. Dollar interest rate swaps representing a loan equivalent exposure of up to US 2.5 million dollars.

Contact Information

*Contact details not provided at the time of disclosure*

ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.