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The United Nations Development Programme (UNDP) and Standard Chartered Bank (SCB) in Zambia on Wednesday renewed a Memorandum of Understanding (MoU) to strengthen collaboration on inclusive green economic growth, youth empowerment, and sustainable development across the country.
The renewed partnership builds on existing cooperation and seeks to support Zambia’s national development priorities, accelerate progress toward the Sustainable Development Goals (SDGs), and promote opportunities for women, youth, people with disabilities, and vulnerable communities.
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The collaboration also aims to catalyse private-sector engagement and innovative financing solutions.
Speaking at the signing ceremony, UNDP Resident Representative, Dr James Wakiaga, said the partnership reflects UNDP’s efforts to leverage private-sector expertise and financial innovation to advance Zambia’s development goals.
“Youth empowerment stands at the heart of this collaboration. We aim to create pathways that enable young people to acquire employability skills, build entrepreneurship capacity, strengthen financial literacy, and participate in initiatives that foster innovation and self-reliance,” Wakiaga said.
Standard Chartered Bank Zambia Chief Executive Officer, Sonny Zulu, said the bank was committed to sustainable finance, youth enterprise, and national economic diversification.
“For 120 years, we have grown alongside Zambia and today reaffirm that our most important investment is in its people. This MoU is a declaration that Standard Chartered Bank stands firmly behind Zambia’s young people as active drivers of our nation’s development,” Zulu said.
Under the MoU, the two institutions will focus on youth empowerment through financial education, skills development, and enterprise support; innovative SDG financing; renewable energy and climate initiatives; and SDG impact management practices to strengthen accountability.
UNDP and SCB Zambia said they will continue close consultation to ensure the partnership delivered tangible, lasting benefits for the country.
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