LUSAKA TIMES – The World Bank has set aside $600 million for Zambia to invest in agriculture, energy, rural roads and budget support over the next three years.
Minister of Finance Felix Mutati said the World Bank has committed itself to increasing its support to Zambia under the International Development Association (IDA).
Mutati said this yesterday after meeting Bank executive director for Zambia, Andrew Bvumbe, who is in the country for consultations. “I am happy that the World Bank executive director has come into Zambia at the time when the economy has begun to stabilise and macro fundamentals are cheerful.
“We have received commitment from the Bank for increased resources and about $150 million will be in the form of budget support,” he said.
Mutati said from the US$600 million, the agriculture sector will receive $255 million to support irrigation and agribusiness while US$280 million will be invested in the energy sector.
Minister of Finance Felix Mutati said the World Bank has committed itself to increasing its support to Zambia under the International Development Association (IDA).
Mutati said this yesterday after meeting Bank executive director for Zambia, Andrew Bvumbe, who is in the country for consultations. “I am happy that the World Bank executive director has come into Zambia at the time when the economy has begun to stabilise and macro fundamentals are cheerful.
“We have received commitment from the Bank for increased resources and about $150 million will be in the form of budget support,” he said.
Mutati said from the US$600 million, the agriculture sector will receive $255 million to support irrigation and agribusiness while US$280 million will be invested in the energy sector.
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