IN a significant move aimed at accelerating Zambia’s socio-economic transformation, the Board of Directors of the African Development Bank (AfDB) has given the green light to Zambia’s Country Strategy Paper (CSP) for the period 2024-2029. This strategic document delineates key intervention areas to spur development and enhance livelihoods across the country.
The CSP outlines two pivotal focus areas: advancing the private sector through strategic infrastructure investments and fostering the growth of Zambia’s agricultural value chain. Raubil Durowoju, the head of the Bank Group’s Country Office in Zambia, underscores the importance of this strategy, stating, ‘The aim of this new CSP is to support Zambia’s vision of speeding up its socioeconomic transformation to improve livelihoods.’
The first priority area underscores infrastructure development, aiming to ramp up productivity, enhance commercial competitiveness, diversify the economy, and uplift living standards. Emphasising the significance of this initiative, Durowoju adds that it will also target women and young people, fostering value addition and job creation.
The Bank’s interventions are meticulously designed to bolster the country’s road and rail network, facilitating easier access and unlocking development opportunities across various economic sectors. Moreover, special attention will be directed towards climate-resilient infrastructure to fortify regional trade, particularly along key transport corridors.
Addressing critical issues of water and sanitation, the Bank’s actions will strive to enhance access to quality water and sanitation facilities. This initiative is poised to significantly enhance the quality of life for Zambians while curbing healthcare costs associated with waterborne diseases.
Furthermore, the AfDB pledges support to Zambia’s agricultural sector, with a keen focus on developing farm blocks and value chains to bolster climate resilience and agricultural productivity. Collaborative efforts with the Zambian government and the private sector will be leveraged to streamline agricultural value chains, with a particular emphasis on synergising with technological and digital start-ups in the agricultural domain.
As of February 29 2024, the AfDB’s active portfolio in Zambia encompasses 23 projects, with a total commitment nearing a $bn. This substantial investment underscores the Bank’s unwavering commitment to Zambia’s development trajectory and its aspirations for sustainable growth and prosperity.