AfDB Approves 2024-2029 Development Priorities for Zambia
The Board of Directors of the African Development Bank Group (AfDB) has approved the Country Strategy Paper (CSP) for Zambia for 2024-2029, which sets out two priority intervention areas: Boosting the development of the private sector through investments in infrastructure and developing the country’s agricultural value chain.
“The aim of this new CSP is to support Zambia’s vision of speeding up its socioeconomic transformation to improve livelihoods,” comments Raubil Durowoju, head of the Bank Group’s Country Office in Zambia. “The first area emphasizes infrastructure development with the aim of increasing productivity, strengthening commercial competitiveness, diversifying the economy, and improving people’s lives. The second supports value addition and job creation and is targeted at women and young people,” he adds.
The Bank’s interventions will be designed to help expand the road and rail network and to make access easier and to unblock the development opportunities envisaged in other sectors of the economy. They will also support the creation of climate-resilient infrastructure and the development of transport resources to further strengthen regional trade, especially along the regional transport and trading corridors.
Furthermore, the Bank’s actions in the water and sanitation sector will help to improve access to high-quality water and the use of sanitation facilities. This should translate into an improved quality of life for the Zambian population, and a reduction in the costs of medical care for waterborne diseases. Naira Slides as Nigerians Import Appetite Rises
Finally, the African Development Bank Group will provide assistance to the agricultural sector, concentrating primarily on the development of farm blocks and value chains, to improve the sector’s climate resilience and agricultural productivity. The Bank will also work with the Zambian Government and the private sector to improve the value chains of agricultural products by drawing on synergies with support for technological and digital start-ups in the agricultural sector.
On 29 February 2024, the African Development Bank’s active portfolio in Zambia comprised 23 projects, with a total commitment of almost a Billion US Dollars.
