WB backs Zambia’s debt sustainability efforts

By Ruth Chayinda

The World Bank has pledged to continue scaling up support to help Zambia maintain its economic stability and debt sustainability.

World Bank Group Managing Director and Chief Administrative Officer, WENCAI ZHANG says through the support rendered to Zambia, the bank is confident that more private sector investment will be wooed into the various economic fields.

Speaking when he called on Finance and National Planning Minister SITUMBEKO MUSOKOTWANE, Mr. ZHANG said despite the bank having limited resources, it will mobilise concessional monies to support Zambia attain its reforms.

And Dr. MUSOKOTWANE has thanked the World Bank for the support it has continued to render to Zambia which has enabled government to restructure the debt.

He said government remains committed to economic reforms to make the Mining, Agriculture and Energy sectors attractive.

And World Bank Country Director NATHAN BELETE praised government for the bold actions taken to address the various challenges that the country is facing.

Meanwhile, International Finance Development -IFC- Country Manager, MADALO MINOFU said the institution will continue to mobilise private sector capital to support government’s reforms and enhance investment in Mining, Agriculture and Energy.