You are currently viewing WB approves $665m

WB approves $665m

DARLINGTON MWENDABAI, Lusaka

THE World Bank has approved US$665 million finance to fund projects in Zambia in an effort to accelerate economic growth and help reduce the debt burden. Bank of Zambia (BoZ) Governor Denny Kalyalya says the funding will be used for the country’s economic growth. Speaking to journalists at the just-ended AU 5th Specialised Technical Meetings (STC) for Ministers of Finance in Lusaka, Dr Kalyalya said the support from the World Banks is timely. The support to Zambia’s recovery from multiple debts will help in the economic restructuring process.The World Bank is providing support to Zambia’s recovery from multiple debts to help institute reforms for inclusive growth and poverty reduction. Dr Kalyalya said what Zambia can appreciate now is that external financing, which was not coming, will start being received as CLICK TO READ MORE