The African Development Bank Group (AfDB’s) has pledged its support to Zambia’s economic development through a newly approved Country Strategy Paper (CSP) for 2024-2029.
This strategic partnership focuses on two key areas: infrastructure development and the agricultural value chain.
Raubil Durowoju, head of the AfDB’s Zambia office, highlighted the CSP’s aim to accelerate Zambia’s socioeconomic transformation and improve livelihoods.
The first area of focus, infrastructure development, and targets increased productivity, improved commercial competitiveness, economic diversification, and better lives for Zambians.
Expanding the road and rail networks will be the AfDB’s top priority as it seeks to open up development potential in a number of industries.
Furthermore, the Bank will help develop climate-resilient infrastructure and boost regional trade by enhancing transportation options, especially along important corridors. The goal of water and sanitation investments is to give Zambians access to high-quality water and sanitation facilities, improving their quality of life and lowering the cost of healthcare due to the prevention of waterborne illnesses.
The second pillar of the CSP focuses on the agricultural sector. The AfDB’s will assist in developing farm blocks and value chains to enhance climate resilience and agricultural productivity.
Collaboration with the Zambian government and private sector will target value chain improvements for agricultural products.
This includes leveraging synergies with technological and digital advancements in Zambian agriculture.
As of February 29, 2024, the AfDB’s maintains a strong presence in Zambia with an active portfolio of 23 projects, valued at nearly one billion US dollars.
This new CSP signifies a continued commitment to Zambia’s development journey. By focusing on infrastructure and agriculture, the AfDB’s support has the potential to unlock significant economic growth and improve the lives of Zambians.
