Minister of Finance and National Planning, Situmbeko Musokotwane, says government’s financing is insufficient to deliver Zambia’s developmental agenda without private capital.
Dr. Musokotwane has stressed the need to harness private capital and innovative financing mechanisms such as public private partnerships, green bonds, carbon trading and diaspora funds.
Speaking when he officially Launched the 2024 World Bank’s Zambia Public Finance review report in Lusaka today, Dr. Musokotwane said that there is need to fund the majority of capital investments through private capital, to reduce the fiscal risks associated with large-scale capital projects.
“Though progress has been made to reduce the fiscal risks associated with large-scale capital projects, there is need to have more of private capital in the market,” said Dr. Musokotwane.
And Dr. Musokotwane said that the 2024 World Bank’s Zambia Public Finance review report will assist government take stock of its revenue and spending policies to ensure improved project prioritization across government.
He said government is also expectant of more conversations around improving fiscal and public project management, to deliver public investments at optimal costs.
Angel Kasabo
