Zambia benefits US$2 bn AfDB funds

THE African Development Bank (AfDB) has so far committed US$2 billion for its operations and financing of projects in Zambia since inception in 1971.

AfDB country programme officer Philip Boahen said a further US$880 million had been approved for this year.

He was speaking at a media orientation for the upcoming 2016 AfDB annual general meeting at Mika Conventional Centre in Lusaka.

Mr Boahen explained that the approved US$880 million had been used to finance projects such as transport, water sanitation and agriculture.

“We have committed about US$2 billion to Zambia for financing operations.

“As of this month, AfDB has approved about US$880 million towards projects for transport, water sanitation and agriculture. We invest more in infrastructure programmes,” he said.

He explained that some operations the bank was currently financing targeted supporting small scale farmers in Zambia, citing the cashew nut projects in Western province

Mr Boahen said over 70,000 households were expected to benefit from the current projects the bank was working on.

And Government has urged the media to market the Zambian investment potential on the African continent during and after the 2016 African Development Bank (AfDB) annual general meeting scheduled to run from 23rd to 27th May, 2016.

Permanent secretary in the Ministry of Information Godfrey Malama was speaking at a media orientation workshop on the upcoming AfDB annual meeting.

“I urge the media to lead the way in telling Zambia’s success stories and market the country’s vast and virgin investment potential to the outside world using platforms such as the forthcoming African Development Bank annual meetings which the country is honoured to host,” he said.

Mr Malama said it was unfortunate that media headlines were saturated with politics excluding the economic and developmental issues that created jobs and wealth for the people.

He said this was unproductive for a country such as Zambia which was in a hurry for development.

Speaking earlier, ministry’s press and media development director Isaac Chipampe said the media had a crucial role of highlighting the importance and benefits to Zambia. Zambia first hosted such a meeting in 1973.

Mr Chipampe also said preparations for the event had since been intensified.

Categorized | Business

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