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There is need to develop regional Infrastructure, Chikwanda tells COMESA

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Finance Minister Alexander Chikwanda delivering the 2015 budget
Finance Minister Alexander Chikwanda

THERE is need to develop regional Infrastructure that will support trade in the region through the Regional Integration Support Mechanism programme (RISM) under the Common Market for Eastern and Southern Africa (COMESA), Finance Minister Alexander Chikwanda has said.

The Minister, who is new chairperson of the COMESA fund Ministerial Committee, said this during the 10th meeting of COMESA Fund Ministerial Committee in Lusaka yesterday.

Mr Chikwanda however pointed out that despite the financial support under the COMESA RISM facility, the resources were insufficient to cater for all the regional needs.

He said the development of infrastructure such as roads, rail, ecommerce, and border facilities are essential in supporting regional integration.

“We need to explore ways of ensuring sustainable financing of our regional infrastructure projects to ensure that our people find it easy to do business within and across the borders and we as member states have an important role to play in this process of creating sustainability,” Mr Chikwanda said.

He further called on member states to consider increasing funding for regional programmes in the respective national budgets.

“Going forward, it is my expectation that the facility will continue to support member states through the effective mobilization of resources and it is also my hope that the facility will achieve financial and institutional sustainability,” he said.

The minister said the support rendered to the member states through RISM would ensure continuity of gains attained in economic growth and development, which are associated with regional integration.

Mr Chikwanda said when economic integration of the COMESA region is at optimal capacity, countries would enjoy the economies of scale, which as individual countries cannot achieve.

“It is for this reason that we have mainstreamed regional integration into our development objectives and it is our ardent hope that when the inordinately stalled rationalisation comes to fruition by ending the current overlap of economic communities in East and Southern Africa, our economies will be stronger,” he said.

The COMESA Fund meeting took place in the sidelines of the COMESA Policy Organs meetings that ended in Lusaka, Tuesday December 9,2014.

9 COMMENTS

  1. Where has Mr Chikwanda been? After chewing on with the pathetic failures, PF, for 3 years you’ve been mute and today you want some media glamour lights!
    Farmers Mr Chikwanda have not been paid their monies, as you can see, its planting season.
    You see now PF eeh? 38 days left and counting down till you’re elected out.
    Kudos, Saulosi, Mushota, Katonto boys and all PF chatterboxes, are smelling the blossom and breeze of change.
    Yazanda hazardous PF, yazanda lelo!
    Uko!

  2. @Skeleton, what chewing? What Chikwanda is saying is of significant, a country can’t develop without infrastructure development. A country is called developed mostly due to the type of infrastructure it has built, without that it can’t be called developed!! Definitely, as a country we need more funding in the roads sector, railway sectors, universities and hospitals. These are things that stand a test of time when built.
    HH is busy mortgaging the country to the foreigners with corrupt vices that tend to undermine human values. And he is not offering anything new to this country. All his promises are underway, with this PF government.

    • Iwe its Lungu wants Mugabe to have a stake in Zambia. Unfortunately, Zambians will not allow it.

      Zambian eye opinion poll places HH ahead of lungu, with 57.7% and 32% respectively. HH has a slight lead of 20% over Lungu.

      Caution must be exercised though, because the exact period over which poll was conducted is unknown.

    • You are hater and a liar! Do you have proof that he’s mortgaging the country? All those are lies meant to discredit HH, but the good news is that You all have failed!! Viva HH!

    • Banton,
      I definitely do agree with what Chikwanda is saying, so is your views.
      Nevertheless, I questioned where Mr Chikwanda has been all these 3 years.
      The economy is lacking, the family are feeling heat because the necessities of life have more than doubled once PF took over.
      Mealie Meal, Cement, Fuel, Electricity, Water & Food prices have skyrocketed beyond Zambians wages, let alone the unemployed. The finance minister seems to be failing economically because they prioritized by elections of the Euro Bond over production of the country.
      Its a bit late for Chikwanda after being superseded on the economic aspects of the country and that’s how I clarifying my observation of PF as a party in government.

  3. @Wanzelu,
    Zambian Eye is the UPND site. Muvi TV poll had put Lungu ahead of anyone. Mind you Muvi is a non-partisan site. Definitely this election is about Lungu and HH. But back to the topic, what Chikwanda is saying is important, we need infrastructure development. We have suffered long as Zambians without proper infrastructure that can spearhead economic development.

  4. Ba Chikwanda iyo ni good hygiene indeed! Standardised regional infrastructure is key to cross border trading. It’s imperative for African countries to also start looking at the quality and standard of infrastructure development mushrooming across the continent to safeguard long term trade.

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