Government has signed the Additional Loan Agreement and Bilateral Debt Restructuring Agreement with the Saudi Fund for Development (SFD) as a commitment to enhancing Zambia’s development and fostering financial stability.
In a statement to RCV News in Lusaka today, Minister of Finance and National Planning Situmbeko Musokotwane says the additional loan for the King Salman hospital project will further solidify the shared vision of improving healthcare in Zambia and it is set to provide essential services to the people.
Dr. Musokotwane said the project will also be a centre of excellence specializing in maternal and child healthcare and serve as a regional referral hub.
“This project represents a milestone in our efforts to bring quality healthcare closer to our citizens and underscores SFD invaluable contributions to Zambia’s health sector,” said Mr. Musokotwane.
He also said that the debt restructuring journey has been challenging but rewarding and that it reflects on Zambia’s determination to address the country’s financial challenges and the unwavering support of partners like the SFD.
‘Under the G-20 common framework for debt relief this agreement formalizes our shared commitment to restructuring Zambia’s debt, ensuring fiscal sustainability, and fostering economic growth, said Dr. Musokotwane.
By Elizabeth Mutale
