Rédaction Africa Links 24 with Chief Editor
Published on 2024-03-05 02:38:47
In a significant move to strengthen Zambia’s economic resilience and tackle urgent challenges, the African Export-Import Bank (Afreximbank) has pledged a substantial $1.6 billion towards development financing in the country. This announcement was made during a meeting between Afreximbank President, Dr. Benedict Oramah, and Zambian President Hakainde Hichilema at State House.
President Hichilema expressed his appreciation to Afreximbank for their generous support, emphasizing the crucial role of this financing in addressing Zambia’s current food security crisis. He stressed the immediate need to ensure food security and create jobs through value addition in various sectors of the economy.
Dr. Oramah echoed President Hichilema’s sentiments, highlighting the importance of Zambia effectively utilizing the allocated funds for economic development. He pointed out Zambia’s potential as a significant grains producer, suggesting an opportunity to reduce reliance on imports and enhance food security across the continent.
Furthermore, the Afreximbank president articulated the broader goal of the financing, which is to improve food security in African countries and protect their sovereignty over food production. This initiative is in line with Afreximbank’s commitment to promoting sustainable economic growth and development throughout the continent.
President Hichilema welcomed the development financing warmly, recognizing its timely arrival amidst the challenges posed by climate change in Zambia and other African nations. The funding is expected to play a crucial role in mitigating the adverse impacts of climate change and advancing Zambia’s economic agenda under President Hichilema’s leadership.
The partnership between Zambia and Afreximbank highlights the significance of international cooperation and financial assistance in driving economic transformation and resilience, especially in the face of global challenges like climate change and food insecurity. This collaboration signifies a shared commitment to supporting sustainable development and fostering economic growth in Zambia and across Africa.
Overall, the $1.6 billion commitment from Afreximbank represents a significant step towards addressing Zambia’s pressing economic challenges and promoting sustainable development in the country. With a focus on enhancing food security, creating jobs, and mitigating the impacts of climate change, this financing is poised to make a tangible difference in Zambia’s economic landscape under President Hichilema’s leadership.
Read the original article on Lusaka Times
