Q FM Africa's Modern Radio
The Zambian and Germany governments and KFW have signed a grant agreement for financial and technical cooperation amounting to 107.5 million Euros.
Speaking during the signing of the grant agreement in Lusaka, Finance Minister Felix Mutati says the funds will be utilized in various areas that directly contribute to poverty reduction within the context of the Seventh National Development Plan and the Zambia Plus program.
Mr. Mutati says part of the funds will be used for decentralization development through district infrastructure which will see the construction of bus stations and markets to a tune of five million Euros as well as fund the urban water supply and sanitation project in Chipata up to eight million Euros.
He says eight million Euros will be used for rural water supply and sanitation, while eighteen point five million Euros will be used for sustainable electricity supply Southern Division.
The Finance Minister adds that thirty one million Euros will be used for Get Fit Zambia programme, while Ecological Urban Development Lusaka program will receive eighteen million Euros.
Speaking at the same event, German Ambassador to Zambia Achim Burkat says the government of German has concluded that the current portfolio of Germany development cooperation aligns very well with Zambia’s development needs and the vision 2030.
Mr. Burkat has also observed that prudent fiscal management in coupled with systematic improvement of the domestic basis is key to Zambia’s future.