EU commits €22.27 million to Zambia for promotion of green economy

The European Union (EU) has allocated EUR 22.27 million to Zambia for technical assistance and a matching grant facility under its Green Economy Promotion and Diversification Programme (GEPD).

Mathews Reusing, Acting Chargé d’Affaires of the EU delegation to Zambia, announced that the funds would support innovative Small Medium Enterprises (SMEs) and young start-up companies committed to green, circular and digital transformation.

Speaking at the Lusaka Internet Meet-Up on Thursday, Reusing highlighted the launch of the “GREEN Tech4CE” project under the GEPD.

Additionally, Reusing announced the launch of a regional programme with COMESA, focusing on Information and Communication Technology (ICT) policy enhancement and governance.

This programme, with an investment of €8 million, aimed to foster competitive digital markets, promote regional integration and establish coherent ICT policies for cross-border digital connectivity.

The EU has also adopted a regional eCommerce programme to boost digital payments and eCommerce across Africa, including COMESA countries.

This initiative aims to improve infrastructure and regulatory frameworks, making digital payments easier and more accessible regionally.

“The EU has been working closely with the Ministries of Technology and Science (MoTS) and Small and Medium Enterprise Development (MoSMED) on developing Zambia’s first Start-up Bill,” Reusing added.

This legislation aims to reduce administrative burdens, streamline regulatory processes, and improve access to finance for entrepreneurs leveraging new technologies.

Reusing expressed optimism that the Start-up Bill would soon be presented to Parliament, creating a conducive environment for start-ups to thrive and contribute to Zambia’s green, circular, and digital economic transformation.

“This is also about promoting more sustainable businesses and impact investments, which is crucial as we have been exploiting and exhausting the natural capital of our planet rapidly in recent decades,” Reusing concluded.

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