Q FM Africa's Modern Radio
The World Bank has set aside US$150 million as budget support towards Zambia’s agriculture sector over a period of three years.
The IMF has also pledged $1.3 billion balance of payment support to Zambia.
Speaking upon arrival in Washington D.C ahead of the commencement of the IMF/World Bank spring meetings, Ministry of Finance Permanent Secretary Mukuli Chikuba says government has requested the World Bank to front-load the funding of the budget support in order to address immediate challenges the country is facing.
He says government has a new country partnership with the World Bank and will seek to have discussions on areas of cooperation especially in the agriculture sector where funding is anticipated next year.
Mr Chikuba says government is also expected to hold discussions with the World Bank regarding the energy sector to find ways of addressing the country’s power deficit.
He says this follows the World Bank’s support to the 2,400 Mega watts Batoka Gorge Hydro Power project which Zambia is jointly developing with Zimbabwe at an estimated cost of US$6 billion.
Mr Chikuba adds that other engagements will be with the IMF on Zambia’s economic programme.
Finance Minister Felix Mutati is also expected to attend the high-level meeting.
This is contained in a statement issued by First Secretary for press and public relations at Zambia’s embassy in Washington Cosmas Chileshe.