- Germany has extended 76.2 million Euros as grant to Zambia for the next three years for development and good governance programmes.
The agreement follows the conclusion of bilateral negotiations between Zambian government and Germany on Wednesday.
Secretary to the Treasury, Likolo Ndalamei said of the grant allocation, the water sector would receive 32 million euros, good governance 5.2 million euros, poverty reduction 30 million euros while one million euros would go towards the government decentralisation policy.
Mr Ndalamei gave an assurance that the funds would be used to achieve the set goals as per agreement with the German Delegation. "I would like to assure you that the funds will be utilised in a transparent and accountable manner as we are aware that they come from tax payers in Germany," he emphasised.
For Zambia, which the global financial crisis has dealt a big blow to the country's revenue sources, especially the mining sector, Mr Ndalamei said the fund will greatly assist to bolster government development efforts.
He said government would also use the 8 million euros to be contributed by both countries towards the realisation of the national vision 2030.
Head of delegation from the Ministry of Economic Cooperation and Development for Southern Africa, Ingolf Dietrich said Germany would continue supporting Zambia's development efforts, also commending the country for the manner in which it accounts for German development funds.
"We are glad with the manner we concluded the negotiation. I must say I was impressed with the aid effectiveness Zambia has embarked on and with the explanations we got from the Zambian delegation," Mr Dietrich said.
Germany has expressed its skepticism in dishing out grants to developing counties in the face of the global economic crisis, but it has however pledged its commitment to continued to assist countries with potential.
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