Government has allocated 87-million Kwacha towards setting up of an Infrastructure Fund which Minister of Finance Felix Mutati mentioned in the 2018 national budget.
Ministry of Finance Permanent secretary Mukuli Chikuba says the fund will be used to finance projects with financing from the infrastructure bonds, development banks and private funds such as shares.
Mr. Chikuba was speaking at the Zambian Mission in Pretoria South Africa when he paid a Courtesy call on Zambia’s High Commissioner to that country Emmanuel Mwamba.
He says the introduction of the Fund is important because it will remove challenges from financing projects such as roads and rails.
And Mr. Mwamba is impressed with the establishment of the fund saying infrastructure development is key in every developing country.
He says the African union and SADC agenda of industrialization would only be realized when Infrastructure such as roads, rail, ports and airports are built.
This is contained in a statement issued to ZNBC news by first secretary press and public relations at the Zambian mission in South Africa Naomi Nyawali.