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FINANCIAL NEWS
Abu Dhabi agrees to provide USD21m for Lesotho dam
25 Nov 2012
(MENAFN) Abu Dhabi Fund for Development (ADFD) has agreed to contribute USD21 million to a dam project in the Kingdom of Lesotho, official news agency WAM reported.
Lesotho is a landlocked country and enclave, completely surrounded by its only neighbouring country, the Republic of South Africa.
The new agreement for the Metolong Dam project will enable the government to provide clean water, boost agriculture, food security and economic stability for its around 2.1 million population.
The dam is being built on the South Phutiatsama River to contain 53 million cubic metres of water in its reservoir, and is expected to meet water demands by 2025.
The project will comprise water storage and purification facilities, four stations to pump water to four cities, 89km of water pipelines and other electro-mechanical works.
ADFD’s director general Mohammed Saif Al Suwaidi said the dam will provide an additional 71,000 cubic metres/day of drinking water to the capital city of Maseru and neighbouring towns.
In 1987, ADFD funded two development projects in Lesotho with USD1.8 million.
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