World Bank gives Zambia $44 mln for development program
www.chinaview.cn 2006-06-07 14:56:13

   LUSAKA, June 7 (Xinhua) -- The World Bank will provide Zambia with 44 million U.S. dollars for its local development program, Times of Zambia reported Wednesday.

    The fund will be used to undertake activities left by the Zambia Social Investment Fund (ZAMIA).

    According to the World Bank, Zambia as the borrower will contribute 20 million dollars, the International Development Association (IDA) 28 million dollars while the Kreditanstalt Fur Wiederaufau of Germany will add 16 million dollars.

    The proposed operation will support the government's public sector reform program, which has in the past year gained momentum although the implementation of decentralization policy has moved slowly.

    The Finance Ministry of Zambia has requested the World Bank to provide fast-track technical assistance to design an inter-governmental fiscal architecture to define a financial transfer system to local authorities to be piloted this year and fully implemented next year. Enditem

Editor: Wang Yan
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