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The World Bank has pledged to support Zambia’s 2027 fiscal programme as the Government seeks to attract private investment, create jobs and accelerate economic growth.
The pledge follows the 2026 International Monetary Fund (IMF) and World Bank Group Annual Meetings held from October 12 to 18, according to a statement issued in Lusaka by the Ministry of Finance and National Planning.
Finance and National Planning Minister, Dr Situmbeko Musokotwane, said the meetings reinforced the need for developing economies to mobilise private investment alongside public resources, as financing from the IMF and World Bank alone could not meet their investment needs.
He said the Government would strengthen partnerships to mobilise private capital in line with President Hakainde Hichilema’s growth agenda.
“Our priority for the next five years is growth, growth, growth. International cooperation must produce investments that expand output, exports, businesses and jobs,” Musokotwane stated.
On agriculture, Musokotwane outlined ambitions to produce one million metric tonnes of sugar, three million metric tonnes of soybeans and 10 million metric tonnes of maize, alongside broader national targets for 2031.
These include annual maize production of 10 million metric tonnes, electricity generation capacity of 10,000 megawatts, five million tourist arrivals and copper production of three million tonnes.
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He said Zambia had substantial mineral resources, water, agricultural land and a youthful population, but that these advantages would deliver limited benefits without investment, effective institutions, relevant skills and a strong commitment to implementation.
“We have to change our mindset. We have to be a go-get society. Citizens, businesses and public institutions must identify opportunities and contribute to national development objectives,” the Minister emphasised.
Musokotwane said achieving the agricultural targets would require investment in roads, irrigation, electricity and other infrastructure to enable farmers, processors and transporters to participate in expanding value chains.
The Zambian delegation also engaged IMF African Department Director Zeine Zeidane, with discussions following Zambia’s staff-level agreement on a proposed three-year Extended Credit Facility of approximately US$1.5 billion.
The proposed facility remains subject to approval by IMF management and the Executive Board.
On mining, Musokotwane said the Government expected the national aerial geological survey and related exploration initiatives to translate into commercially viable projects, mineral processing, increased participation by local businesses and job creation.
“The Government’s priority is now to convert these engagements into bankable projects, disciplined financing and effective reforms that safeguard stability while delivering more jobs, stronger Zambian businesses and higher household incomes,” he said.
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