The Times of Zambia (Ndola)

Zambia: AfDB Loan Explained

THE Government has said that it acquired a loan from the African Development Bank (AfDB) to support vulnerable families under the food crisis response programme for 2009 and 2010 after member countries of the financial institution made the request.

Community Development and Social Services Deputy Minister Moses Muteteka said in Parliament yesterday that member countries made the request to the bank to help them resolve the challenges that were brought about during the increase in global food prices.

Mr Muteteka said this in response to a question by Chipili MP Davies Mwila (PF) who wanted to know why the Government entered into a memorandum of understanding (MoU) with the AfDB for the loan facility.

Mr Chipili also wanted to know how much was given to the Government for the programme and the terms of the MoU.

He explained that at the annual meeting of the AfDB held in Maputo in 2008, ministers of Finance from member countries proposed short-term measures to address the food crisis and one such proposal was to utilise uncommitted funds from closed loan projects.


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