Zambia, EU sign financing deals to boost investment

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Lusaka, Oct. 22, 2020 (Xinhua/Naija247news) Zambia and the EU on Thursday signed two financing agreements aimed at boosting investment in the southern African nation, Fredson Yamba, Secretary to the treasury said.

Under the agreements, the EU was expected to provide a total grant of 54 million dollars (1.1 billion Zambian Kwacha) for the Economic Governance Support programme.

Yamba, who signed on behalf of Zambia, said the programmes would be financed under the 11th European Development Fund (EDF), the current partnership programme with the EU.

The two financing agreements are targeted at supporting the government’s efforts towards strengthening economic governance and energy efficiency, he added.

According to him, the support to economic governance will aim at contributing to improving the business and enabling the investment climate in the country.

Jacek Jankowski, EU Ambassador to Zambia, who signed on behalf of the European body, said the signing of the two agreements will improve government’s service delivery to the private sector and the public at large.

The EU envoy noted that the organisation would support Zambia by contributing to the creation of favourable conditions for private sector development.

According to him, the overall business environment in Zambia and investment climate has remained challenging to support and accelerate private sector growth.

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