Ministry of National Development Planning Permanent Secretary – PS Chola Chabala has disclosed that government has received K282 million (about US$24 million) from its counterparts towards the implementation of the 7th National Development Plan – 7NDP and that the country has secured financing in excess of what was projected in the plan.
Chola told the Zambian Business Times – ZBT in an exclusive interview that the money was contributed by counterparts from private sectors and that K150 million was raised from the Green Climate Fund – GCF.
He also mentioned that for the climate change investment, the ministry has engaged corporate partners in financing the climate change projects adding that a pilot project on climate resilience is underway in Sothern, Western and Central provinces.
He added that in order to fully scale up the climate change projects in uncovered provinces, another US$100 million is expected from the Green Climate Fund – GCF.
In addition, he said, government has also submitted a proposal to the World Bank for US$ 100 million which he said will scale up what is contained in the 7NDP plan and he is positive that the proposal will be approved within this year.
Meanwhile, the PS also indicated that the financing of the 7NDP should not be centered to government only as it is not in the position of fully financing the plan but through corporate partners and private investors.
“The plan is huge and will not be 100 percent financed by government, there are several options that the ministry has put in place such as the involvement and collaboration with corporate partners and other existing funds as such government has also put in place a supportive environment to make sure that funds towards the implementation of the 7NDP is realized
He has however noted there is need by government to enhance partnership with various players in the private sector in ensuring that various milestones contained in the 7NDP are met.
