Q FM Africa's Modern Radio
Paul Noumba Um
Visiting World Bank Country Director Paul Um has says job creation should be prioritized in Zambia’s quest to reduce poverty and stem inequality.
Dr. Um says for World Bank supported programmes to have an impact, the job creation agenda should be prioritized.
The visiting World Bank Country Director said this during a High-Level Meeting between the Government of the Republic of Zambia and the World Bank Group held Lusaka yesterday.
He also congratulated Zambia for making substantial progress in improving the annual funds absorption capacity for the current World Bank portfolio totaling over US$1.2 billion.
He says in the bank’s recent assessment, they determined that Zambia’s absorption capacity had improved to an average of 18% per annum.
Dr. Um says the recommended annual level is 20% for five year programmes.
Meanwhile Finance Minister Felix Mutati says it is important that the development programmes supported by the World Bank are consultative, jointly formulated, and willfully owned by the beneficiaries, implementing agencies, and the relevant arm of the World Bank Group in order to produce the expected impact on the livelihoods of the people in the targeted communities or sectors of interest.
Mr. Mutati has appealed to the World Bank to streamline the process of approving funds for disbursement in order to accelerate further the absorption of the US$1.2 billion of the current portfolio of projects being supported by the bank in Zambia.
The meeting was organized to explore the prospects of strengthening the implementation of World Bank supported projects in Zambia.
During the meeting, the high-level delegates ventured into examining how portfolio transformation impact could be achieved through measures such as consultative selection of project sites and improvement in coordination of spatial decision making in the governmental system.
This is contained in a statement issued to QTV News by Ministry of Finance Head of Public Relations Chileshe Kandeta.