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The World Bank has approved a new five-year Country Partnership Framework (CPF) to support Zambia’s sustainable private sector-led economic growth, climate resilience and improved well-being for its citizens.
The 2024–2029 CPF aligns with Zambia’s Eighth National Development Plan and Vision 2030, focusing on job creation, human capital development, and enhancing climate resilience.
The framework aims to foster inclusive, sustainable, and resilient economic growth driven by the private sector, according to a statement issued in Lusaka on Wednesday.
World Bank Country Manager for Zambia, Achim Fock, stated the CPF’s role in supporting Zambia’s recovery from economic shocks and its focus on job creation and inclusive growth.
“This CPF outlines priorities to assist Zambia during a critical recovery period, refocusing on more resilient growth,” Fock said.
The framework would also prioritise improving service delivery to enhance human capital outcomes, reduce poverty and address inequality, particularly in rural areas.
Madalo Minofu, the International Finance Corporation (IFC) Country Manager, added that the IFC would work to boost private sector development by supporting small and medium enterprises (SMEs), improving the investment climate and focusing on key infrastructure sectors such as renewable energy, telecommunications, agribusiness, and tourism.
Extensive consultations with stakeholders, including government, civil society, and the private sector, informed the development of the CPF.
Jessica Charles Wade, Senior Risk Management Officer at the Multilateral Investment Guarantee Agency (MIGA), highlighted MIGA’s ongoing support for Zambia through guarantees aimed at increasing agricultural productivity, job creation, financial inclusion, and access to cleaner energy.
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