Zambia’s treasury is set to access about K2.7 billion (about US$150 million) financial support from both bilateral and multilateral cooperating partners as emergency funding facilities to mitigate the impact of Covid-19
Despite their own Covid-19 related challenges, the United States of America – USA and United Kingdom – UK have joined the African Development Bank – AfDB and the World Bank in providing financing facilities Zambia to enable the fight against the Covid-19 pandemic.
Finance Minister Dr. Bwalya Nga’ndu had announced on April 20, 2020 in his state of the economy address amidst Covid- 19 that a number of multilateral institutions have announced various windows under which Zambia could source emergency support facilities to mitigate the impact of the pandemic.
According to a statement made available to the Zambian Business Times – ZBT by Ministry of Finance Spokesperson Chileshe Kandeta on April 30, 2020, the World Bank has made available US$57.60 million (about K1.05 billion) under its rapid response facility and in addition, the Zambian Government has applied for a further US$20 million (about K372 million) under the Banks Covid-19 fast track facility.
The African Development Bank (AfDB) has committed US$37.5 million (about K697.5 million) to Covid-19 as part of the their Covid-19 Rapid Response Facility and that the funds will cater for the purchase of medical equipment, screening of patients, rehabilitation of quarantine facilities and community sensitisation.
Further, the AfDB will provide support to high density areas through the provision of hand sanitisers, soap, water bowsers, hand washing facilities and supply of clean and safe drinking water to fight Covid-19. The AfDB will also provide food security packs for approximately two-hundred thousand (200,000) households in the event of the situation escalating.
And the United Kingdom has pledged support towards upscaling social cash transfer under its GBP30 million (about K705 million) social cash transfer grant assistance and it has to this effect pledged to frontload its support in view of the Covid-19 pandemic to ensure that the vulnerable are cushioned.
Meanwhile, the United States of America Government has approved a grant of US$14.5 million (about K270 million) towards the fight against covid-19 in Zambia and the funding is an addition to the technical support that the United States Centre for Disease Control (US-CDC) is providing to the Ministry of Health and the Zambia National Public Health Institute.
And Finance Minister Dr. Bwalya Nga’ndu has expressed gratitude for the financial support and partnership from the four cooperating partners. The details on the conditions attached for these facilities are yet to be made available to ZBT.
The Finance Minister has since pledged Government’s commitment to ensuring that the resources are used prudently, and accountability exist in their use.
