AfDB approves USD 24 million Budget Support Loan for Zambia

29/09/2011
Share |

The African Development Bank Board of Directors has approved a USD 24-million loan to finance Zambia’s fourth poverty reduction budget support program. The African Development Fund (ADF) loan is part of USD 159 million budget support operation financed by World Bank ($30 m loan), European Commission ($43.5 m grant), UK’s Department for International Development ($41.6 m grant), Germany ($13.6 m grant), and Finland ($6.8 grant).

The program aims at improving the efficiency and transparency of public financial management, increase the government’s revenue base to finance pro-poor expenditures and improve access to water and health services in rural areas

“Our goal is to create transparent, efficient and equitable mechanisms to improve public expenditure management and provide better service delivery in the poorest districts of Zambia”, said Agnes Soucat, AfDB Director for Social and Human Development.

The program will provide safe water supply to 36 districts, improve school enrolment and retention of adolescent girls.. The program will also provide full immunization to children aged below one year in 20 of the country’s poor districts.

Technical contact: Benedict Kunene
Media contact: Nawsheen Elaheebocus