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WORLD BANK RELEASE USD $1.2 BILLION TO GROW THE ECONOMY

WORLD Bank Country ManagerIna-Malene Ruthenburg says 18 projects in the agriculture, energy, health, education and trade sectors have been identified to help foster economic growth.

Speaking during the launch of the Country’s Partnership Framework (CPF) Ruthenburg said a total of USD $1.2 billion has been released to help grow the economy and raise the living standard of people.

Zambia’s CPF, which runs from 2019 to 2023, was approved by the World Bank board in February this year.

Ruthenburg said Zambia needs a productive health sector supported by agriculture industry to boost growth and reduce high poverty levels.

She, however, bemoaned the country’s low human development, which accounts for the largest share of a nation’s wealth.

“Zambia has made a lot of progress in the sector but more needs to be done in the education sector. The CPF wants to emphasise infrastructure development focusing our support on roads, dams and power transmission,” she said.

She further called for strong accountability for public service delivery and governance.

Meanwhile, Finance Minister Margaret Mwanakatwe commended the bank for its continued support to Zambia’s development agenda.

She said the CPF is going to transform Zambia’s productive and social sectors.

“Zambia needs more of World Bank support to bring about a prosperous middle-income status by 2030,” she said.

“As a country, we can grow our economy to seven and eight per cent. The current growth of 3.7 per cent is okay when compared to the Southern African Development Community growth, but it is not enough to reduce poverty.”


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world bak FINANCE MINISTER AGRICULTURE