World Bank to Approve Five-Year Partnership Framework with Zambia
The World Bank is poised to approve a five-year New Partnership Framework with Zambia by September this year, which will run from 2025 to 2029.
This strategic initiative aims to bolster human capital development and support the nation’s infrastructure advancements.
World Bank Managing Director and Group Chief Administrative Officer, Wencai Zhang emphasised the significance of this partnership during a meeting with Zambia’s Infrastructure Development Minister, Charles Milupi. Zhang highlighted that the framework is designed to address critical areas essential for Zambia’s socio-economic growth.
“The framework will play a pivotal role in supporting human capital development in Zambia,” said Zhang. This includes investments in education, healthcare, and skill development, ensuring that the Zambian workforce is equipped to meet the demands of a rapidly evolving global economy.
Minister Milupi expressed his optimism about the forthcoming partnership, noting that it aligns with the government’s vision for sustainable development.
“The collaboration with the World Bank will significantly enhance our infrastructure projects and human capital initiatives,” Milupi stated. He further added that the government’s commitment to improving infrastructure is crucial for economic growth and poverty reduction.
The New Partnership Framework is expected to provide a comprehensive approach to development, integrating various sectors to achieve cohesive and sustainable progress.
Zhang reiterated the World Bank’s dedication to working closely with the Zambian government, private sector, and other stakeholders to ensure the effective implementation of this framework.
As Zambia prepares for this significant partnership, the focus remains on leveraging these investments to create a resilient economy that benefits all citizens.
The approval of this framework marks a new chapter in the collaboration between Zambia and the World Bank, promising substantial advancements in the nation’s development trajectory.
SOURCE:openzambia.com
