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The European Union (EU) has taken a decision to increase the funding for Zambia under the bilateral envelope of the Neighbourhood, Development and International Cooperation instrument (NDICI)-Global Europe for the period 2021-2024, worth 60 million Euros.
Minister of Finance and National Planning Dr. Situmbeko Musokotwane and EU Commissioner for International Partnerships Jutta Urpilainen confirmed the development in a communique issued in Lusaka on Tuesday.
In the communique, Urpilainen said as a sign of faith and trust in the government’s reforms, this ‘democratic dividend’ is to be provided in the form of Budget Support towards education and health.
She said the funding is in recognition of Zambia’s commitment to democratic values and reforms.
Urpilainen said under the Global Gateway Flagship investment which promotes renewable energy in Zambia, the EU will increase its funding for the Rehabilitation of the Kariba Dam by 30 million Euros
“A further 20 million Euros will be made available for Small Holder farmers to mitigate the effects of the food security crisis and economic shocks in Zambia, caused by the Russia – Ukraine Conflict,” she said.
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Musokotwane said this confirms the strong and solid partnership between the government and European Union and, in accordance with the priorities of this partnership and the EU’s Global Gateway Strategy.
“Moreover, following bilateral talks between the government of Zambia and the European Union, we announce our intention to launch negotiations to sign a Memorandum of Understanding for establishing a bilateral Strategic Partnership on sustainable critical raw materials value chains,” he said.
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