“Zambia will now have access to the African Development Bank(AFDB) access window that will enable the country have $326 million in grants per year” , says AFDB President Adesina Akinwumi.
This follows the country’s successful negotiations with its creditors to restructure $6.3 billion of its external debt.
Mr. Adesina said that the grants will be made available to Zambia when requested adding that the funds can be used in sectors that will uplift the livelihoods of its citizens.
He said this in Lusaka today when he led a delegation from the AFDB at state house.
Speaking at the same meeting, President Hakainde Hichilema thanked that AFDB for its continued support.
He has also urged AFDB to help with technical support as the country prepares to sign the debt restructuring deal treatment with its official creditors soon.