Posted on : 29-05-2017 | Back | Print

Zambia has signed a confirmation agreement with Export- Import Bank of India (EXIM) to see the construction of infrastructure that would de- congest Lusaka roads.

MR. MUTATI says he is hopeful that the actual works to build roads in points on congestion will start in less than two months.

“Most business houses have relocated because of congestion in the central business district and we want to see them come back once we decongest Lusaka,” Mr. MUTATI said.

This came to light at a side event during the on- going 2017 African Development Bank –AfDB annual meetings in AHMEDABAD, India.

MR. MUTATI signed on behalf of Zambia while DEBASISH MALICK, EXIM Bank Deputy Managing Director signed for the bank.

Meanwhile, the Finance Minister has held talks with Chief Minister of GUJARAT, SHRI VIJAY RUPANI, who has promised to help Zambia in areas of agriculture and energy.

And speaking at a side event, Swedish Ministry of Foreign Affairs Deputy Director General for Global Agenda MAGNUS LENNARTSSON has praised Zambia for taking a painful decision to cut off subsidies on fuel and electricity as such acts are not sustainable.

At another side event, MR. MUTATI met Canadian Foreign Affairs Global Issues and Economic Development Director General PATRICIA PENA who has requested Zambia to support her Country to vie for a seat at the UN Security Council.

And the Finance Minister has taken time to explain to key bilateral and multilateral partners that ‘Zambia Plus’ is a smart way to revamp the economy as key economic indicators such as inflation, foreign reserves, debt sustainability, interest rates and a stable currency exchange rate has now been achieved.

MR. MUTATI explains that Zambia will seek the endorsement of the IMF on its economic recovery path asking Sweden, Canada and other AfDB Governors seating on the AfDB board to encourage AfDB to support Zambia with external budget support.

Issued by:
Bangwe Naviley
First Secretary [Press and Tourism]
New Delhi, India

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