Zambia and German have signed a EURO 97.5 million technical and financial cooperation grant for water, sanitation and governance improvement programs for the period 2017 to 2018. German has also made a commitment to disburse EURO 27 million to Zambia which was pledged in 2015 for improvement of water resource management, sanitation, reduction of the effects of the El Nino spectacle, and implementation of decentralisation programs.
The government of Europe’s biggest economy has in addition pledged to provide EURO 20.5 million for poverty reduction programs under the Special Initiative One World – No Hunger Programme.
Secretary to the Treasury Mr. Fredson Yamba signed the agreements on behalf of Zambia while German Ministry of Economic Cooperation and Development – Head of Department for Southern Africa, Mr. Alois Schneider signed on behalf of German.
Commenting on the development, Finance Minister Felix Mutati has said the measure by German to give Zambia the EURO 124.5 million grant is a sign of the confidence of the international community in economic governance measures being implemented by the administration of President Edgar Chagwa Lungu.
The Minister said “the Zambian Government will continue to negotiate with both bilateral and multilateral cooperating partners to ensure that the donor components of the country’s financing needs in 2017 and beyond are timely financed and disbursed.”
“Through frequent interaction, the reliability of the relationship not only between Zambia and German, but with all cooperating partners should be optimized on the basis of common objectives, fellowship, and harmonisation of perceptions and interests,” Mr. Mutati said.
And German Ambassador to Zambia Achim Burkart has said Zambia is an important partner in the African sub-Saharan region whose great potential for renewable energies is a source of attraction for investments from Europe.
Ambassador Burkart said, “in recognition of Zambia’s economic recovery efforts, we have invited the Minister of Finance Mr. Felix Mutati to the German-Africa Business Summit to be held in Kenya next year as a panelist on setting the scene for economic growth in Africa.”
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Early this week, financing agreements for support to the Zambia Social Protection Expansion Programme were signed between Zambia and two cooperating partners; Finland and Sweden, in which the former gave Zambia a grant of K63.2 million and the later K177.2 million for the period 2016 to 2018.
The Zambian Government has on its part increased the contribution to the social cash transfer in the 2017 budget by 85% to K2.7 billion.
Great news.
Why these countries even bother to lend us money is beyond me.
We have sold our country to the highest bidder.
If the last bond was mismanaged expect this to be the same
Brilliant news isn’t it ?
Ofcourse not.
Thanks
BB2014
Lusaka times ati ‘germany gives zambia,,,,,,,,,,,,’ sugarcoating so that it doesn’t sound heavy
@Mushota, you make sense when you are sober.
@Mushota Its a grant not a loan! So it is more accountable than a loan. German tax payers have made this possible my friend! No cilly BB2016 for you this year! WINK!
Lend? It’s a grant
It’s nice to note we still have a few concerned friends! Thank you!
The Germans are just lucky that Zambia is so far down south from the Mediterranean Sea. Otherwise we would be flooding their land running away from PF fascism. The Germans fully well understand the dangers of self-elected dictators who cannot stand any criticism and prey on minorities. The Germans should be more assertive in righting the wrongs of African dictatorships.
Righting? From the Germans? Iwe baki tithi! These people killed so many Africans. Just go and read about the Herero in Namibia who were wiped out as the Germans rehearsed to wipe out the jews.
Hello Zambians. You great people I ask you to vote NEZ as best Blogger. The nominations are opened. Please exercise your right to vote by voting me the most honest man here as blogger of the year. I trust you will make one right decision this year. You already made an error by voting in PF, so please undo your wrong by voting NEZ and nominating me as best blogger. I thank you in advance…. aluta
NEZ
Chief Strategist of the UPND
Incoming best blogger 2016
Great job done! A sign of confidence in the PF govt, but please ba kateka these funds should not be diverted to buying those useless and deplorable Luxury SUVs, heaven forbid that!!!
I bet PF will use the money to buy more machine guns and armoured vehicles. They can already see the fruits of their incompetence in the form of hunger, corruption, unemployment, tribalism and theft of national resources. That’s why they are arming themselves against the slum dwellers who have already started protesting against PF, such as two days ago at the Lusaka Civic Centre when bakaponya realised that Kulima Tower will be sold to Boers.
How much money are we going to to given for water and sanitation …surely these are basics and fundamentals …can we not look after ourselves??
@5 Jay Jay ..you have a point!We have been given, we have borrowed in the name of water and sanitation but no improvement!
Not ease when every thing is politics like LCC want bus station to be economically managed main cash cow eaters refuse, mines consume electricity at one third of production cost, comparison of travel fares in developed world to zambia. Otherwise its an exchange rate stability
No wonder we are perceived as beggars. We cannot even fix our own drinking water….. but wait a minute:- Given a grant, and not a loan, just like that? In exchange for nothing?. We should ask both WIIIFM and WIIIFY when signing these agreements and know clearly where we stand as a Country. (What Is In It For Me, What Is In It For You).
I know that after BREXIT, the future of EU is rather precarious. I also know that Britain has commonwealth Countries as back-up for trade. So, in short, is this ‘Scramble For Africa’ Take II for raw material?
Or, as @2.1 Buck Teeth Lungu has observed, is this grant meant to solve the problem and thereby prevent exodus of people to EU since prevention is better than cure? There is no such thing as free lunch.
Donors ,Bilateral and Multi Lateral Co-operating Partners must stop aiding and abetting the illegal and illegitimate Lungu govt. They must send a clear message to Lungu that until the UPND Presidential Petetion is heard Lungu will not get any financial assistance. Any dreams about Refinancing Eurobond loans and IMF Financial Assistance are dead in the water for Zambia until the Petetion is disposed off. The winds of change are blowing from Brexit to the shocking Election Win by Donald Trump in the USA, the shocking defeat of Jammeh in Gambia after 22 years, the announcement of Retirement from Power by Dos Santos and now the shocking defeat of Mahama in Ghana. Its almost 4 months after Lungu stole HH’s Election Victory in August 2016 and its time illegitimate Lungu sorts out the…
Lusakatimes provides an endless stream of irritating lousy spelling, grammar and non-editing.
For your attention, free of charge:
“Germany” is a noun, the name of a country.
“German” is an adjective.
I am sure that the donor would appreciate it, if you would get it right for a change.
And where do they get this stoopid habit of identifying someone by three names? Edgar Chagwa lungu everyday! People are not identified with their middle names. Two names are enough