On March 15, the World Bank approved the disbursement of 45 million US dollars to support Zambia’s macroeconomic reform programme under the Second Zambia Climate and Economic Resilience Programmatic Development Policy Financing initiative.
The funding will reinforce the country’s economic resilience through three key reform pillars already being implemented by the Government. The first focuses on strengthening fiscal management and improving economic stability.
The second pillar aims to promote private-sector investment and enhance resilience in critical enabling sectors, while the third targets improved disaster risk management and climate resilience, particularly in areas vulnerable to climate shocks such as agriculture, water resources and electricity supply.
Speaking in a statement issued on March 15, Situmbeko Musokotwane, Zambia’s Minister of Finance and National Planning, said the approval reflects growing international confidence in the country’s reform agenda.
He added that the reforms are intended to sustain macroeconomic stability, strengthen fiscal discipline and create conditions for private-sector growth and job creation while improving livelihoods across the country.
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