World Bank hails Zambia’s readiness for green financing


World Bank’s vice president for Budget, Performance Review and Strategic Planning, Samuel Munzele Maimbo, says Zambia is well positioned to benefit from green financing, backed by its abundant natural resources.

Supporting the natural resources, according to Maimbo, was the creation of the Ministry of Green Economy and Environment which signaled government’s policy direction and commitment.

Maimbo said this in an interview on the side-lines of the 2023 Zambia Impact Investment Summit (ZIIS23) on Tuesday in Lusaka.

Maimbo pointed out that natural resources such as water and land put Zambia in a good position to benefit from the world’s green financing.

Read more: World Bank approves $100 million facility to strengthen Zambia’s nature-based economy

“Zambia is very well positioned to benefit from green financing. The fact that you have a ministry for green economy is a good start, it means that there is policy interest in getting there.

“I think Zambia will also fare really well in a place where there is a lot of interest in natural resources. So, if you think about Zambia’s natural resources, water, soil. If you ask how well Zambia is positioned, I would say is it right up there,” he said.

Maimbo, however, stated that Zambia still had a lot of work to do in terms of capturing that potential.

“In terms of capturing that pontential however, I think Zambia has a lot of work to do and a lot of it is events like this one where you bring in all actors and provide them the support. High potential, a lot of work to do,” he said.

Meanwhile, Maimbo encouraged governments to clear policies for green financing to attract investments in the space.

According to Maimbo, these policies must show government’s commitment for long term investments.

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