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AfDB nods $1 billion for Zambia

AfDB country manager Damoni Kitabire.

KABANDA CHULU, Lusaka
THE board of directors of the African Development Bank (AfDB) Group has approved a US$1 billion Zambia’s strategy paper with emphasis on private sector development to support Government’s industrialisation and job creation agenda.

The 2017-2021 country strategy paper, which has been approved along with the 2017 country portfolio performance review, reflects Zambia’s middle income country status and its reclassification to “Blend’ in 2014 which makes it eligible for AfDB’s concessional and non-concessional resources.
In line with the reclassification, the strategy therefore seeks a broader mandate that allows operational flexibility and adjustments in Government priorities and mitigating sector risks.
AfDB country manager Damoni Kitabire said in a statement yesterday that the board approved Zambia’s strategy paper which proposes to achieve an integrated approach with two complementary pillars.http://epaper.daily-mail.co.zm/

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