Zambia, Zimbabwe Fund Batoka Dam

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Zambia and Zimbabwe have each pledged $220 million to revive the stalled $4.2 billion Batoka Gorge hydropower project. The development aims to ease power shortages after drought-hit generation at Kariba. The 2,400MW cross-border plant will be developed under a public-private partnership, with both governments seeking equity partners to improve bankability. Updated feasibility studies are underway as a joint committee works to mobilize additional financing.