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Disclosable Restructuring Paper - AFCC2 RI-Zambezi River Basin Development Project - P133380 (Inglês)

The objective of the Zambezi River Basin Development Project is to advance preparation of the Batoka Gorge Hy-dro-Electric Scheme and strengthen cooperative development within the Zambezi River Basin. The project is primarily supporting the engineering, environmental and social, legal and transaction advisory studies required for the development of the Batoka Gorge Hydropower project. The studies to date have been done professionally and to an acceptable standard. However, the process has been impacted by several technical, capacity and scope of works changes that have led to previous project extensions and the need for additional finance. This project restructuring will extend the project closing date by four months to support contract continuity and to enablethe Zambezi River Authority to explore additional financing options. The restructuring does not change the PDO, safeguard category, allocation of funds, or any implementation arrangements. Overall implementation and progress toward the development objective are both considered Moderately Satisfactory, as are financial management, procurement, and project management ratings. The project is compliant with safeguard requirements. The project restructuring extends the closing date to 31st December 2018. It also better aligns the results framework with current best practice. The restructuring does not change the PDO, safeguard category, allocation of funds, or any implementation arrangements.

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