World Bank Group President Robert Zoellick has described his meeting with President Rupiah Banda as excellent and fruitful for the people of Zambia.
Mr. Zoellick said he had good discussions with the Zambian Head of State on many areas of national development such as infrastructure development, agriculture, irrigation among other key national programs.
He said he discussed with Mr. Banda how the country would find money to invest in the sectors adversely affected by the global economic meltdown.
Mr. Zoellick disclosed that he also discussed with Mr. Banda how Zambia can diversify its economy from dependence on mining as the key economic activity to agriculture.
He told a video press conference today that he was able to discuss with President Banda how the country can find additional funding for clean development projects.
Mr. Zoellick said President Banda was able to tell him about his own farming experience and how some farmers sold the subsidized fertilizer they got from government to other farmers.[quote]
The World Bank Group President said this situation was unfortunate and did not make sense hence the need to reduce subsidies.
And the World Bank chief said Africa’s development lies squarely with Africans themselves.
He said the World Bank was committed to work with Africa to create jobs and reduce the prevailing poverty among the African people.
Meanwhile, Mr. Zoellick has said Chinese investment in Africa was welcome as it had the potential to contribute to Africa’s infrastructure development which could in turn result in job creation for the people.
He, however, said Chinese investors need not to come with their Chinese workers as that did not do Africa any good in terms of development.
ZANIS
Excellent and fruitful my foot .
Correct sentiments from WB chief. S. Africa’s accelerated development had much to do with long political/economic embargo embargo. Unlike East Asia, Sub-Sahara on the other hand has been treated to massive aid rendering us retarded in as far as development is concerned. Nigeria with over 100m people should not be importing cars. They do so not because they are black but because they have not made any coherent plans to starve themselves of finished goods. Such huge shopping appetites in poorly resource managed Africa can only be sustained by dishonesty; hence the long culture of embezzling, war mongering and now extortion in Somalia. With the coming of special economic zones that encourage manufacturing; we could change our fortunes here in Zambia. Ultimately, only Zambians & not the…
Chines will develop Zambia
world bank + imf + chiluba and mmd thugs are the reason we are all in poverty!
Good Observation!!! All well meaning people know that Zambia’s Economy is on course though we all need to work hard together with the President.
“Africa’s Development Squarely lies with Africans themselves”. Like in the case of Zambia, all Zambians have to work towards developing Zambia and exporsing their frustration as a result of their on failure in some cases.
IMF and WB are loan sharks. Angola is doing just fine economically, but the two sharks want to loan them money. They will lend money to any country weather the credit rating sucks or it is great ! Exception ZimMugabe. Money – the root of evil and greedy
Two points.
1) Zoellick looks like John Bolton
2) Neoliberalism hasn’t only caused poverty and inequality in Zambia, but across the world, including in Egypt and the middle east. Please check out the following article:
EGYPT: Economists Blame ‘Neo-liberalism’ for Region’s Woes
By Adam Morrow and Khaled Moussa al-Omrani
Google:
economists neoliberalism ipsnews
Chibula Mutenge,
They did just make a $500 million facility available to Zimbabwe – because that is what they make available to all member states to prop up the collapsing economic system they helped create.
I hope everyone knows that the Zimbabwean economy collapsed because the Bush Administration destroyed the Zimbabwean dollar by freezing the government’s credit lines overnight. The Post had an excellent editorial detailing many of the measures taken against Zimbabwe.
The Zimbabwe Democracy and Economic Recovery Act of 2001 came into force in 2002, which is the same year the Zimbabwean trade surplus ($322 million) collapsed into a trade deficit (-$18 million). This is because international trade is done on credit. This forced to government to operate on a cash only basis.
Good Evening
Well, Mr. Zoellick, since you have already made the right observation that Africa’s development lies squarely with Africans themselves, then why is your organisation permanently knocking on the Africa’s door and ever trying to persuade our leaders to get one loans after the other? Is it not because the deeper we sink into the mire of debt, the more power you get over us?
To lend money to a country is to control that country – self interests are at the core of such meetings. Instead of falling prey to them, our president better turn to other African leaders instead (e.g Nujoma from Namibia) who have made it without the World Bank and the IMF and learn from their strategy to master economic development.
oops, I meant “one loan after the other” and not “one loans…” as erroneously posted above
efyu! leave our president and us alone. you fooled us sometime, but you cant fool us all the time. chiluba refused to sell you all the mines and you sponsored capt. solo to topple him. mwanawasa turned to china and you killed him.
Boring, History keep repeating its self. Having brain dead Banda in official can actually impress the world bank because they can manipulate in dead brain. These fools have no shame after decades of manipulative ideas. what can they bring now that we’ve not heard. rebranding neo policies is actually their priority
I actually hear Kamwendo Munjila fell asleep during the second half of the meeting and when he arose from his slumber, Robert Zoellick was gone and Kamwendo Munjila retorted: “Niza munena kuli mwana mutoto Obama ati aliye ulemu ngako”.
VICE-President and justice minister George Kunda has recommended to Cabinet to pay about K5 billion to Lusaka-based parliamentarians, most of whom are ministers, attending the National Constitutional Conference (NCC) as facilitation allowance. Backdated to December 19, 2007 when the NCC started its sittings.
Vice-President Kunda will be paid K77.3 million, finance minister Dr Situmbeko Musokotwane K70.8 million while NCC chairperson Chifumu Banda K88.4 million. Ministers Lieutenant General Gen Ronnie Shikapwasha (information), Peter Daka (agriculture), Sarah Sayifwanda (gender), Kenneth Chipungu (sports), deputy ministers Angela Cifire (information), Moses Muteteka (local government), Todd Chilembo (justice), Friday Malwa (community development), Mwangala Mubita (tourism) & Mubika Mubika
I hope RB hasn’t entered into any dubious deals with the World Bank over the sale of Zambia!
How big is RB’s farm?
Naimwe ba 13, kambani va nzelu.
Good meeting. Now lets go to work to develop Zambia. We welcome advice from all well wishers. Even loans are good. Zambia just needs to think before they get the loans, then make sure that you use the money for intended development and pay back the loan on time. What could be wrong with that. It’s just like managing your own house finances.
World Bank again?? We just emerged from begging that the debt be cancelled and here goes another ill mannered lout (Rupiah Banda), desperately trying to bury us deeper into debt. Don’t you ever learn? They first started by refusing to allow that the debt be debated before hand and now we know why. And why not tax the mines that have damaged the roads or at least make them pay for the damage. Why should we subsidize mine companies so that they keep making more profit? The World bank is a world loan shark. Take some time to read what has been written by former architects of the SAP and AGOA. Paul Wolferwitz was was world bank President but check waht he did to us.
Here we go again! One of the reasons given for borrowing ‘high interest’ loans is not justifiable: reconstruction and maintenance of roads damaged by mining activities. The mines supposedly pay loads and loads in taxes of one form or the other. My take on this issue is that government should let the mining companies work on the affected roads using some portion of taxes. This idea has been suggested to government time and again. This again goes on to reveal how weak and useless the ‘development agreement’ government signs with individual mining companies actually are. Zedians, the future of this country is at stake. After all the pleading we did to have all debt cancelled and forgiven, can we honestly pretend that it is alright to start borrowing again?