20 February 2013

Zambia: World Bank Commits U.S.$1.5 Million to Zambia

THE World Bank-administered Multi-Donor Trust Fund (MDTF) has committed at least US$1.5 million to Zambia and 13 other countries for capacity building and technical support programmes.

Accroding to the latest Voice of Transparent Report, the funds would also be used as a resource to implement the Extractive Industries Transparency Initiative (EITI) principles of revenue.

The funds will be utilised by the 14 countries including Zambia, for capacity building and other related programmes to be undertaken by the Civil Society Organisations (CSOs).

From the total allocation amount of $2 million, the current commitment to the 14 countries was about $1.5 million.

The report said the amount would be fully committed with the addition of Peru and Myanmar.

By increasing knowledge, access to information and dialogue between CSOs, the MDTF is also contributing to strengthening dialogue between CSOs and other stakeholders which include Government and the private sector because CSOs representatives feel better able to address issues linked to EITI implementation monitoring with the other stakeholders.

The report stated that the mining sector was an important pillar of the Zambian economy and the country had registered a decade-long economic growth of more than five per cent.

Further, this growth, however, has not transpired into poverty reduction.

Zambia joined EITI in 2009 and attained the status of compliant country on September 19, 2012.

The stakeholders within the Zambia EITI multi-stakeholder group, commissioned a feasibility study for technology solution to reduce the EITI reporting cycle from three years to between 60 and 90 days.

This new process will ensure a rapid availability of EITI reports and their wide dissemination online. This new practice could become a model for other EITI implementing countries.

EITI, launched in 2003, promotes and supports improved governance and transparency in resource-rich countries through the full publication and audit of company payments and Government revenues from oil, gas, and mining.

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