BoZ launches K5 Billion Resilience Fund
By Masauso Mkwayaya
The Bank of Zambia –BOZ-has introduced a FIVE Billion Kwacha Stability and Resilience Facility -SRF- to safeguard the financial sector in the wake of the drought in the 2023 – 2024 rainy season.
Bank of Zambia Acting Director – Communications SILVIA SIWALE says the facility is meant to ensure financial stability and enhance resilience.
She says the funding will be open, effective Monday, December 30, 2024 and will run for a period of 12 months.
Ms. SIWALE says under the Facility, the Bank of Zambia shall provide funds to eligible Financial Service Providers -FSPs- for onward lending to viable businesses in the agriculture sector and those negatively impacted by the current electricity shortages.
She says the Introduction of the Facility is in line with the broader mandate of the Bank of Zambia of supporting and ensuring price and financial system stability.
Ms. SIWALE says food production and hydroelectricity generation have particularly been negatively affected, leading to food insecurity and extended periods of load shedding.
She says the funds shall be offered under prescribed terms and conditions which shall be distributed to all Financial Service Providers and published on the Bank of Zambia Website as well.
This is according to a statement issued to ZNBC News by Ms. SIWALE.
