Zambia News

Government To Spend $1.5 Billion On Food, Agriculture Projects, Mtolo

To encourage development partners to provide additional funding to the initiatives, the government would set aside $1.5 billion for Agriculture and Food Compact projects.

This was revealed when President HAKAINDE HICHILEMA met with the AfDB and other development partners outside of the Dakar 2 Summit to highlight Zambia’s investment climate and initiatives designed to assist agricultural growth.

This is necessary for the nation to get funding from the $10 billion AfDB Compact support to finance the deliverable Compacts’ agricultural components.

In order to mobilize funding and investment for the Food and Agriculture Deliverable Compacts, Zambia’s investment needs were addressed by Agriculture Minister REUBEN MTOLO during a meeting that was presided over by President HICHILEMA.

In addition to the intention to increase the production of wheat, maize, and soya beans, Mr. MTOLO claimed that the government is encouraging agricultural diversification in order to attain national food security.

A $10 billion support package for Food and Agriculture Delivery Compacts in Africa was just unveiled by the ADB.

In order to boost the productivity of specific agricultural products and achieve food security, the Food Compacts have been designed for a chosen group of countries.

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