The African Development Bank (AfDB) will roll out mega projects in Zambia, focusing on 4 key areas. The areas include expansion of the Mpulungu Harbour, development of the Lusuwishi Farming Block, stimulation and scale up of Water Resources Management Projects and institutional support towards fiscal consolidation.
According to AfDB Country Manager Mary Manneko Monyau, Zambia is an incredibly important partner as the country has the largest investment portfolio for the Bank in Southern Africa. Minister of National Development Planning Alexander Chitame adds that “AfDB efforts currently stand at US$1 billion covering 26 operations in different sectors of the country.”
Feasibility studies for the mega projects in Zambia are already running and, once completed, appropriate implementation activities will be funded in accordance with the findings.
Minister Chitame has announced his support of these projects, saying that the Mpulungu Harbour and institutional support towards fiscal consolidation in particular are key to the economic stabilization programme currently running in Zambia, already yielding positive results. Monyau and Chitame have agreed to a stronger open policy partnership that will help Zambia increase its project implementation and financial absorption capacity.
In addition to these mega projects, the Green Climate Fund (GCF) has recently approved an $84.5m for two Zambian projects in agriculture and energy. $52.2m will go towards the Zambia Renewable Energy Financing Framework supported by the African Development Bank, with the remaining $32million working towards the agriculture project developed by the ministry of Agriculture and supported by United Nations Development Program (UNDP) as an accredited entity. According to ZNBC’s Sylvia Kabala, the approved amount will trigger additional financing and raise the total net of the two projects to $281 million. The project funding has been approved at the 19th GCF Board Meeting held in Incheon, Korea. GCF Mitigation and Adaptation Division Director, German Velasquez, explains that these projects will help strengthen climate resilience of agricultural livelihoods in some parts of Zambia, while on energy they will mitigate the effects of climate change.
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