FANNY KALONDA
Lusaka
OVER 12,000 jobs are expected to be created across the country through the Zambia Agribusiness and Trade Project II (ZATP II), which is being implemented at a cost of US$170 million.
The five-year project is a joint initiative between Government, through the Ministry of Commerce, Trade and Industry (MCTI), and the World Bank Group, aimed at contributing to increased access to markets and finance and promoting agribusiness growth.
Speaking during the launch of the project, Minister of Commerce, Trade and Industry Chipoka Mulenga said the ZATP II line of credit is part of the three components of the project that look at supporting access to markets and finance. Others are market connect and product alliances.
He said the line of credit will be implemented at a cost of US$90 million.
“Out of this amount (US$170 million), a total of US$30 million has been ring-fenced for the line of credit to facilitate access to sustainable financing for the agribusiness sector,” he said in a speech read by Ministry of Commerce, Trade and Industry Permanent Secretary Crusivia Hichikumba.
The minister said additionally, the matching grants facility has been allocated US$52 million to support access to markets and finance, while Zanaco as the fund manager will add an extra US$8 million, bringing the total available financing to US$90 million.
“Through the two financing instruments, namely the matching grants and a line of credit, ZATP II targets to benefit producer organisations such as cooperatives, district farmers’ associations, business associations and small and medium entreprises as catalysts for economic growth and social transformation,” Mr Mulenga said…https://enews.daily-mail.co.zm/welcome/home
