African Development Bank agrees to lend Zambia $125 million - CNBC Africa

African Development Bank agrees to lend Zambia $125 million

Southern Africa

by Reuters 0

Food insecurity is one challenge facing Zambia. PHOTO: Wikipedia

The African Development Bank has agreed to lend Zambia $125 million on concessional terms for the improvement of sanitation, food security and support to women entrepreneurs, the government said on Tuesday.

Finance minister Alexander Chikwanda and African Development Bank country manager Damoni Kitabire signed the loan agreement in Lusaka on Tuesday, the ministry of finance said.

A ministry statement said that $50 million would be used to upgrade sanitation in the southern African country's capital, earmark $45 million on a project to boost food security and $30 million on support to women in business.

 

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