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The World Bank and Zambia have signed two agreements: the National Energy Advancement and Transformation (NEAT) Programme as well as the financing agreement for the Girls’ Education and Women’s Empowerment and Livelihoods for Human Capital Project (GEWEL 2).
Meanwhile, World Bank Country Director, Nathan Belete, announced an additional US$250 million support as grant on Thursday in Lusaka. Belete said Zambia would receive it over the coming few weeks.
“Since July 1, 2023, all of the World Bank’s support to Zambia through the IDA has been provided as grants.
“To date, we have provided UD$647 million, and an additional US$250 million is expected, to realise a total of US$897 million in IDA grants to Zambia during our current fiscal year, ending June 30, 2024,” he said.
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On the NEAT programme, Belete said the Bank had put in place a 10 year multi-phase facility with a resource envelope of US$700 million facility aimed at increasing the financial sustainability, operational reliability, and resilience of the electricity sector in Zambia.
The Director also talked about the second phase of the GEWEL project whose objectives were to deepen human capital growth and promote the productivity of the poorest and most vulnerable Zambians for longer-term development outcomes.
In response to the NEAT programme, Finance and National Planning Minister, Situmbeko Musokotwane, said it would enhance operational efficiency in the energy sector by improving Zesco’s financial performance.
Musokotwane noted that it would also support the implementation of the measures identified in the Zesco strategy for management of debt and arrears, optimising operational costs and enhancing revenue.
On the GEWEL project, the Minister said government would implement activities focusing on promoting human capital development and productivity among poor and vulnerable girls and women.
“With the signing of these two agreements, it brings the total amounts that we have received in grants from the world Bank to US$717 million.
As you may be aware, from July 2023, Zambia is only eligible to receive grants from the World Bank,” Musokotwane said.
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