HONE SIAME, Lusaka
ZAMBIA has signed a confirmation agreement with Export-Import (EXIM) Bank of India to facilitate the construction of infrastructure to decongest Lusaka roads.
Minister of Finance Felix Mutati signed on behalf of Zambia, while EXIM Bank deputy managing director Debasish Malick signed for the bank.
Mr Mutati said in a statement issued by first secretary for press at the Zambian mission in India, Bangwe Naviley, yesterday that he is hopeful that the actual works will start in less than two months.
“Most business houses have relocated because of congestion in the central business district and we want to see them come back once we decongest Lusaka,” Mr Mutati said.
Meanwhile, Mr Mutati held talks with Chief Minister of Gujarat Shri Vijay Rupani who has promised to help Zambia in improving the agriculture and energy sectors.
And speaking at a side event, Swedish Ministry of Foreign Affairs deputy director general for Global Agenda, Magnus Lennartsson, praised Zambia for taking a painful decision to cut off ‘sustainable’ subsidies on fuel and electricity.
Mr Mutati met Canadian Foreign Affairs Global Issues and Economic Development director general Patricia Pena who has requested Zambia to support her country to vie for a seat in the United Nations (UN) Security Council.
Mr Mutati also explained to key bilateral and multilateral partners that the economic recovery programme dubbed ‘Zambia Plus’ is a smart way to revamp the economy as key economic indicators such as inflation, foreign reserves, debt sustainability, interest rates, and a stable currency exchange rate, has now been achieved.
He said Zambia will seek the endorsement of the International Monetary Fund on its economic stabilisation and growth programme.
He urged Sweden, Canada and other AfDB governors sitting on the AfDB board to encourage AfDB to support Zambia with external budget support.