World Bank to continue funding Zambia’s agribusiness

World Bank has pledged continued support to Zambia’s agriculture sector and the growth of the agribusiness value chain.

Bank Managing Director and Chief Administration Officer, WENCAI ZHANG says the bank will continue funding the Zambia Agribusiness and Trade Project due to its positive impact on the agribusiness industry.

Mr ZHANG was speaking in Lusaka when he visited Yatu Tea Manufacturing Company.

Yatu Tea is one of the beneficiaries of the World Bank funded project under Zambia Agribusiness and Trade Project for phase One.

He further pledged to assist the Zambian government in mitigating negative effects of drought that has affected the agriculture and energy sectors.

And Yatu Tea Company Chief Executive Officer, ASHER CHAPOTAMO has expressed gratitude to the World Bank for the support.

Mr CHAPOTAMO explains that his company has managed to engage about 20,000 local farmers to supply tea and 800 farmers to supply ginger.

And Ministry of Commerce Permanent Secretary in charge of Investment and Industrialisation, CRUSIVIA HICHIKUMBA has thanked World Bank for supporting sectors that contribute to economic growth and poverty reduction in Zambia.

And ZATP Project Manager, GOLDEN MAKAYI has thanked World Bank for the continued support to Zambia’s efforts of reducing poverty by helping Small and Medium scale farmers and entrepreneurs upscale their activities.