{"id":28912,"date":"2026-03-16T20:45:59","date_gmt":"2026-03-16T18:45:59","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=28912"},"modified":"2026-03-16T20:45:59","modified_gmt":"2026-03-16T18:45:59","slug":"world-bank-approves-45-million-to-boost-zambias-economic-resilience-climate-adaptation","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/world-bank-approves-45-million-to-boost-zambias-economic-resilience-climate-adaptation\/","title":{"rendered":"World Bank approves $45 million to boost Zambia\u2019s economic resilience, climate adaptation"},"content":{"rendered":"<div>\n<p><span data-olk-copy-source=\"MessageBody\">The funding, provided through the International Development Association, comes at a time when Zambia is grappling with high debt levels, slow economic growth and recurring climate shocks, including severe drought.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>Finance and National Planning Minister Situmbeko Musokotwane said the approval signals renewed international confidence in Zambia\u2019s reform agenda following the country\u2019s successful debt restructuring process. \u201cIt reflects strong confidence in what Zambia is doing around its economic recovery,\u201d he said.<\/p>\n<\/div>\n<div>\n<p>&nbsp;<\/p>\n<\/div>\n<div>\n<p>Economist Trevor Hambayi told Channel Africa on Monday that the World Bank\u2019s approval marks a major vote of confidence in the country\u2019s macroeconomic reforms. He noted that Zambia\u2019s return to international credibility follows its 2020 default and subsequent restructuring.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cThe $45 million will support economic reforms, enhance fiscal discipline and increase transparency, especially in the mining sector,\u201d Hambayi said.<\/p>\n<\/div>\n<div>\n<p>&nbsp;<\/p>\n<p>The World Bank financing is designed to help Zambia strengthen its financial management, support private\u2011sector development and build resilience to climate shocks.<\/p>\n<\/div>\n<div>\n<p>&nbsp;<\/p>\n<\/div>\n<div>\n<p>Hambayi said the country\u2019s heavy dependence on hydroelectricity, accounting for 96 per cent of power generation, has left it vulnerable to drought. \u201cOne of the biggest climate challenges has been the drought. This financing will help Zambia invest in alternative energy sources, especially solar, to reduce that vulnerability,\u201d he said.<\/p>\n<\/div>\n<div>\n<p>&nbsp;<\/p>\n<p>Hambayi added that the programme could also help attract further investment into climate\u2011related and productive sectors. Zambia\u2019s credit rating has improved from selective default to triple\u2011C, and the country has seen more than 2 billion dollars in annual mining investment since restructuring. \u201cInternational confidence has increased, and this approval reinforces that confidence,\u201d he said.<\/p>\n<\/div>\n<div>\n<p>&nbsp;<\/p>\n<\/div>\n<div>\n<p>On the conditions attached to the support, Hambayi noted that Zambia has already implemented significant macroeconomic stabilisation measures under the IMF programme. Inflation has dropped from 23 per cent to 7.5%, the exchange rate has stabilised and gross domestic product growth has risen to 5.2%. \u201cThese are the benchmarks the World Bank is looking at in ensuring the financing is used effectively,\u201d he said.<\/p>\n<\/div>\n<div>\n<p>&nbsp;<\/p>\n<\/div>\n<div>\n<p>Looking ahead, Hambayi said Zambia must ensure economic growth translates into improved living standards. \u201cGrowth must trickle down to the ordinary Zambian. Poverty reduction and the cost of living are the key challenges that must be addressed,\u201d he said.<\/p>\n<\/div>\n<div>\n<p>&nbsp;<\/p>\n<\/div>\n<div>\n<p>&#8211;ChannelAfrica&#8211;<\/p>\n<\/div>\n","protected":false},"featured_media":28913,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-28912","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"The World Bank has approved $45 million in new financing to support Zambia\u2019s economic recovery and climate\u2011resilience efforts under the Second Zambia Climate and Economic Resilience Programmatic Development Policy Financing.\u00a0","published_date":"","news_description":"The World Bank has approved $45 million in new financing to support Zambia\u2019s economic recovery and climate\u2011resilience efforts under the Second Zambia Climate and Economic Resilience Programmatic Development Policy Financing.\u00a0","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/28912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/28912\/revisions"}],"predecessor-version":[{"id":28914,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/28912\/revisions\/28914"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/28913"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=28912"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=28912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}