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Infrastructure, Housing, and Urban Development Minister Charles Milupi has commended the World Bank and the International Monetary Fund (IMF) for their crucial role in Zambia’s debt restructuring, emphasizing that it has restored investor confidence and improved access to infrastructure financing.
Speaking at the inaugural Ministerial Roundtable during the Transforming Transport Conference in Washington, D.C., Milupi stated that Zambia would have struggled to attract private capital for infrastructure development without the support of these multilateral institutions.
He noted in a statement issued in Lusaka that the progress in restructuring the country’s debt had strengthened investor interest and created new opportunities for public-private partnerships.
He pointed to the US$200 million Improved Rural Connectivity Project (IRCP) and the US$270 million Transport Corridors for Economic Resilience (TRACER) Project, both backed by the World Bank, as key initiatives aimed at improving Zambia’s transport network and boosting economic resilience.
He stressed that such projects were critical for ensuring sustainable development and regional integration.
The high-level roundtable, hosted by the World Bank and the World Resources Institute’s Ross Center for Sustainable Cities, brought together ministers from Brazil, Turkey, Tanzania, Benin, Sierra Leone, Indonesia, Malta, Nepal, and Guyana.
Discussions focused on integrating transport infrastructure with economic and spatial planning, strengthening food security, and attracting private investment.
Milupi outlined Zambia’s investments in key transport corridors, describing them as vital for regional trade, job creation, and revenue generation.
He cited the North-South Corridor, which connects Zambia to Tanzania, the Great Lakes Region, and the Democratic Republic of the Congo, as well as the Walvis Bay Corridor, linking the country to Namibia and Botswana.
He also highlighted the Lobito Corridor, which provides a road and rail connection between Zambia, the DRC, and Angola, and the Nacala Corridor, which facilitates trade with Zimbabwe, Mozambique, and Malawi.
He reaffirmed that Zambia’s transport sector remained a priority for sustainable economic growth and regional integration, adding that enhanced connectivity would position the country as a strategic hub for trade and investment in the region.
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