By 
Zambia has signed a US$50 million cooperation agreement with the Arab Bank for Economic Development in Africa (BADEA) for the construction of the Kalabo-Sikongo-Angola Road Project in Western Province.
The two parties also signed a capacity-building agreement worth US$500,000 aimed at training public officials in finance, trade and energy development.
The agreements were signed on Sunday in Riyadh, Saudi Arabia, by Zambia’s Finance and National Planning Minister, Situmbeko Musokotwane, and Sidi Ould Tah, representing BADEA.
Musokotwane stated that the concessional agreement was designed to support sustainable development goals, focusing on industrial development, infrastructure and economic growth.
He highlighted that the project would improve the standard of living and foster business ventures in the Kalabo-Sikongo-Angola border areas.
“This road network will create more job opportunities, boost cross-border trade, and lift many in the region above the poverty line,” Musokotwane said in a statement on Sunday.
He added that the road would improve connectivity in remote areas of Western Province, especially during the rainy season, when communities are often cut off.
The Minister also expressed optimism about enhanced trade between Zambia and Angola, supporting regional integration.
BADEA President Sidi Ould Tah emphasized that the road project was a key part of Zambia’s development strategy.
“These agreements reflect our shared vision and belief in Zambia’s potential as a regional leader in Africa,” Tah said.
He stressed the importance of investing in both infrastructure and human capital.
WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.
Comments