The African Development Bank has approved the release of a USD48.89 million budget support loan for Zambia. The approved amount is more than the USD36.58 million loan earlier pledged by AfDB.
The increase was in recognition of Zambia’s sound economic policy and improved institutional environment, according to the Times of Zambia.
Zambia also awaits budgetary support from other international donors. Sweden is expected to disburse its promised funding by the end of September, while the World Bank could release its USD20 million assistance any time, the newspaper says. It adds that Germany is due to disburse its pledged aid soon.
Meanwhile, the Japan International Cooperation Agency has announced it will continue to support the development of Zambia’s education sector. JICA has been deploying Japanese volunteers to teach mathematics and science in Zambian schools.