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Zambia: Govt, ADB Sign $500,000 Relief Deal
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The Times of Zambia (Ndola)
2 August 2008
Posted to the web 4 August 2008
ZAMBIA and the African Development Bank (ADB) have signed an agreement for emergency relief amounting to US $500,000.
Finance and National Planning Minister, Ng'andu Magande signed for the Government while ADB president, Donald Kaberuka signed for the lending institution.
During the signing ceremony in Lusaka yesterday, Mr Magande said the fund would be used to alleviate the suffering of people that were affected by the devastating effects of floods and the drought that Zambia experienced during the last rainy season.
"The $500,000 emergency relief agreement will go to support victims of floods and drought in Zambia. This is the only country that asked for assistance for both floods and the drought. Today is an important day because you will also be officially opening the office of the ADB in Zambia. These events are important and reflect the cordial relationship existing between us," Mr Magande said.
The Disaster Management and Mitigation Unit (DMMU) in the office of the Vice-President would manage the fund. The DMMU would liaise with the World Food Programme (WFP).
He recalled that at some point, Zambia's relationship with lending institutions had gone low but because of the fiscal measures put in place, the cooperating partners were again willing to assist improve the country's economy.
Mr Magande particularly commended the ADB for being active in the debt relief programme.
During the time that the Government was asking for debt relief, the ADB agreed to write off $452 million, the funds he said had been used to improve infrastructure as well as improving the education sector.
In 2006, the bank offered the Government a grant towards reforms aimed at combating corruption saying the Zambia National Tender Board and the Anti-Corruption Commission (ACC) were among the many beneficiaries.
The Government was determined to rid the country of corruption saying even the grant signed yesterday would certainly reach the intended beneficiaries.
"This money must trickle down right to the end where this villager can see a well. We are happy that the bank is helping the private sector, and in the tourism area the Intercontinental Hotel has benefited. The $500,000 is part of the continued help that our country receives.
"This will mitigate the effects of flush floods because they come and within two hours they have destroyed everything and the water has even sunk and so it becomes difficult to convince people that there were houses here and have collapsed. It is because of sympathy that you give to people who are affected," Mr Magande said.
And Dr Kaberuka said he was in Zambia at the invitation of President Mwanawasa whom he wished a speedy recovery so that he could come back and continue with his duties.
He said that he met Dr Mwanawasa in Mauritius and agreed that he would visit Zambia. He commended Dr Mwanawasa for the economic gains that Zambia had recorded saying the bank would continue rendering aid.
"We are friends and partners to Zambia and we provide finance. We are making a contribution because we know the challenges you are facing. I am told 14 districts were affected and half a million people were affected. This will go a long way to alleviate the suffering of the people," Dr Kaberuka said.
The opening of an ABD office in Zambia would enhance cooperation between Zambia and the bank.
On the soaring food prices on the globe as well as the energy deficit, Dr Kaberuka said the bank was increasing its lending portfolio to the agriculture sector and had committed an additional $1 billion to the agriculture sector bringing the fund to $4.8 billion.
The price of fertiliser had gone up and it was therefore important that the ADB committed more funds to the agriculture sector to alleviate the suffering of people on the continent.
"We are impressed with Zambia's efforts in maize production because production provides security to the country. This momentum in food production should be maintained," Dr Kaberuka said.
The food crisis coupled with the energy deficit on the continent was somewhat neutralising the debt cancellation that most African countries were given by international lenders.
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It was, therefore, important that the Government worked at finding alternative sources of energy and not to entirely rely on oil.
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