Thursday, June 13, 2024

European Investment Bank Vice President expected in Zambia

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European Investment Bank (EIB) Vice President Thomas Ostros is expected in Zambia for a three-day official visit.

Speaking ahead of the visit, Mr Ostros says his engagement in Lusaka from 25th to 26th September, 2023 will reinforce the strong partnership between Zambia and the European Union as well as mark the first high-level EIB visit to Zambia since the launch of EIB Global.

The Vice President who will be accompanied by international partners in the company of technical and financing experts from the EIB’s regional hub in Pretoria and Luxembourg headquarters, as well as the European Union Delegation in Zambia will meet Zambian political, banking and business leaders.

Mr Ostros said during the visit he will formally sign the first financing under the EIB’s groundbreaking pan-African agricultural and agribusiness financing programme.

“This landmark agreement, made with Zambian partner First Capital Bank and backed by the European Union, is set to unlock substantial investment opportunities in agriculture and agribusiness across the country and demonstrates the EIB’s strengthened support for agricultural development and food security in Zambia and throughout Africa,” he said.

Mr Ostros indicated that on Wednesday, he will open the EIB Southern Africa Small and Medium Enterprise Banking and Finance Academy with Minister of Finance and National Planning Situmbeko Musokotwane.

He further added that more than 100 regional banking leaders and international partners will attend the Lusaka academy aimed at promoting financial inclusion and supporting small and medium-sized enterprises (SMEs) in the region.

“Lusaka will also host the unveiling of the EIB 2023 Financing in Africa report, which provides valuable insights into banking and access to finance across the continent.

Zambia is the EIB’s largest country of operation in Southern Africa and over the past five decades, the EIB has provided more than EUR 1.2 billion for priority business, water, energy, and transport investment across the country.

This is contained in a statement issued to ZANIS today by the European Investment Bank.

11 COMMENTS

    • @Kaizar Zulu is a desperate imbecile. His ugly self was even lucky t work in the state house because it was all PF, the desperate govt. Kaizar Zulu working in the Zambian Govt was pretty much a hazard to the entire country’s economy and mental health. Ukudziwa kuti ndiwe mayi wosayankhula. Zabwino kwa inu ndikungobisala.

  1. These are the same morons stealing our wealth…stay away from Zambia…..Zambia will find a way to develop not via enslaving ourselves

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  2. aGRi-business is poor in zambia. Just an example: go to Soweto market and see wasted harvests. They are rotting because there’s no refridgeration business in the area or anywhere else. The farmer cant be everything, thats what african governments need to know. The Delegation needs to meet us small-scale farmers so as to influence the Zambian political leaders to support us. I know how from the first republic Zambia invested in NRDC and the likes but nowadays they have left everything to the free market. Which country ever developed on the free market?

  3. @The Engineer
    With gullible morons like you Zambia will never develop….a criminal coming to Zambia and you’re jumping up and down….don’t be fooled the Whiteman will never develop your country on your behalf…..NEVER….70 years after Independence and we still far from development because the same bazungu are blinding morons like you and stealing our wealth

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