World Bank Group Board of Directors Reaffirms Support to Zambia

LUSAKA —Members of the World Bank Group Board of Directors* completed a three-day visit to the Republic of Zambia, where they experienced firsthand some of the work being implemented with World Bank support. The delegation reaffirmed the Bank’s partnership and support to the government and people of Zambia as the country addresses its development challenges.

During the visit, the delegation met with President Hakainde Hichilema, who acknowledged the World Bank for its continued partnership with Zambia dating back to 1955. Delegation spokesperson, Ms. Eva Valle-Maestro, observed that the Bank’s support to Zambia is well aligned with country’s development priorities in the National Development plans and the overall World Bank Group strategy, as articulated in the Country Partnership Framework (CPF).

The Executive Directors also met with ministers, including those responsible for finance, education, commerce, energy, agriculture and community development, as well as with the Governor of the Central Bank.

The delegation visited several projects supported by the World Bank Group, which included meeting beneficiaries, of the social cash transfer program and seeing the impact of production improvements for commercial and smallholder farmers resulting from the Mwomboshi irrigation scheme. The delegation also met beneficiaries of the Girls Education, Women and Livelihood (GEWEL) project, who are being supported with secondary education bursaries and livelihood grants for vulnerable women.

During the three-day visit, the Executive Directors also met with the first Deputy Speaker of National Assembly, her Honor Ms. Malungo Chisangano. They also engaged in a dialogue with representatives of civil society organizations, the private sector and development partners. During these engagements, current development opportunities and key constraints facing Zambia were discussed, with a focus on macro-fiscal issues, sectoral challenges, and World Bank Group support of government priorities.

As of January 31, 2022, the World Bank portfolio in Zambia is comprised of 14 projects with a total commitment of $1.4 billion and Trust Funds of about $150million. Health accounts for about 18.5 % of the World Bank portfolio and Social Protection (about 18%), followed by Education (13%), Transport (13%) and Environment (12%).The International Finance Corporation,a sister organization of the World Bank and member of the World Bank Group,has a significant portfolio in Zambia, mostly in agribusiness and financial services as well as manufacturing. The current IFC portfolio in Zambia includes 13 projects, totaling $86.5 million, which is made up of an investment portfolio of $55.9 million and pipeline to the value of $155.8 million.

 

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