Minister of Finance Felix Mutati has said, in President Edgar Lungu, Zambia has a practical leader with a blend of credentials required by the country to maintain socio-economic stability; achieve economic recovery; and reach greater heights of job-creation, prosperity, and sustainable development.
According to the statememt released to the media by Chileshe Kandeta, the Ministry of Finance ‘s Head of Media and Public Relations, the Minister said this in Luxembourg today during a visit to the European Investment Bank [EIB] where he attended a workshop dedicated to Zambia on EIB financing in sub-Saharan Africa.
“I am glad that our European partners have recognized the tough decisions which we have taken secure the country through economic recovery to through removal of subsidies and implementation of measures which facilitate strong public institutions, policy consistence, and fiscal discipline,” said Mr. Mutati.
“We have a President who is a practical leader with a blend of credentials required to maintain socio-economic stability and implement measures which will ensure that we achieve economic recovery,” the Minister told the EIB.
And Patrick Walsh, the EIB Deputy Director General and Director for the Global Partners Division, has revealed that at EURO 407 million, Zambia has received the largest assistance in the Africa Caribbean Pacific [ACP] Region from 2011 to date.
“Of the total amount given from 2011 to date, EURO 80 million went towards rehabilitation of the Great East Road, EURO 22 million for the Kafue-Livingstone Transmission Line, EURO 50 million for the Itezhi-Tezhi Hydro Power Transmission Line, EURO 75 million for the Zambia Water and Sanitation Project, EURO 78 million for the Lusaka Power Transmission and Distribution Network, and EURO 120 million for the Lusaka Sanitation Project.
“Next month, we will send a team of experts to Zambia to engage with the private sector on capacity sharing on project preparation, resource mobilisation, and competitiveness,” said Mr. Walsh.
Mr. Mutati, who travelled to Luxembourg by road, was accompanied to the EIB Headquarters by Ministry of Finance Permanent Secretary for Economic Management and Finance, Mukuli Chikuba, and Zambia’s Ambassador to Belgium and the European Commission, Grace Mutale Kabwe.
Yesterday, Zambia and the European Commission signed a GRANT of EURO 65 million financing for the Lusaka Transmission Distribution Rehabilitation Project. The agreement was signed in Brussels, Belgium, between Finance Minister Felix Mutati and European Commissioner for International Development, Neven Minica.