US DEVELOPMENT BANK TO SUPPORT SME PROJECTS IN ZAMBIA
The International Development Finance Corporation (DFC) has expressed interest to fund Small and Medium Enterprise -SME- projects in Zambia, which will create jobs for local people.
The Agency is the USA’s Development Bank, which partners with the private sector, to finance challenges in international development.
Corporation Chief Executive Officer, SCOTT NATHAN says his institution is interested in working with the Zambian government to support private sector initiatives in different areas, such as agriculture and manufacturing.
Mr. NATHAN says the agency is attracted to countries that promote transparency and the rule of law.
He said this in New York, when he met President HAKAINDE HICHILEMA, on the sidelines of the United Nations -UN- General Assembly.
And President HICHILEMA has asked the Agency to consider funding the manufacturing of Electric Vehicle -EV- batteries and other components.
The President said Zambia has raw materials, such as copper, cobalt and nickel, which are used in the manufacturing of EV components.
The Head of State added that Zambia no longer prides in exporting raw material but wants to add value to its resources.
Earlier, President HICHILEMA met with United Nations -UN- Secretary General, ANTONIO GUTERRES.
And during the meeting, President HICHILEMA called on Mr GUTERRES to facilitate for more Zambian military executives to serve under the UN, as the country is experienced in peace keeping operations.
The President also updated the UN Secretary General on strides Zambia is making to address some of the pressing challenges the world is faced with such as Climate Change and Food Insecurity.