
The Millennium Challenge Corporation, MCC, has disclosed that Zambia has successfully been selected for a five-year United States foreign aid agency compact large scale funding for poverty reduction.
And MCC has since pledged to work with various stakeholders to find lasting solutions, through the compact fund, to the current economic challenges that the country is facing.
MCC Deputy vice President, Darius Teter, explained that the compact fund is a five year project grant, aimed at reducing poverty in developing countries through sustainable economic growth.
Speaking at a media briefing in Lusaka today, Mr. Teter said MCC in Zambia would implement the compact fund through stakeholders’ participation because they play a vital role in identifying needy investment areas for the country.
He explained that enhancing stakeholders’ participation would help achieve broad based understanding on sectors that require immediate developmental attention in the country.
He noted that his organization would ensure that local people also participate in economic growth through the creation of more employment opportunities.
He, further, called on civil society groups to help identify development projects that could impact positive on efforts of promoting investments in key sectors of the economy.
He cited the education, transport, agriculture and health as sectors earmarked to benefit from the fund.
And MCC Senior Director in the Department of Compact Development, Kyeh Kim, explained that there is need for Zambia to come up with a target approach if the fund is to benefit many people.
Ms Kim said MCC will ensure that it assists government to reduce poverty through the policies of good governance and economic growth.
Zambia is among the 18 countries that have qualified to the Compact global United States Government funding through the Millennium Challenge Account, MCA, after being on a threshold programme since 2004.
ZANIS/MM/ENDS/SJK