World Bank pledges support for Zambia’s 2027 fiscal programme

On agriculture, Musokotwane outlined ambitions to produce one million metric tonnes of sugar, three million metric tonnes of soybeans and 10 million metric tonnes of maize, alongside broader national targets for 2031.

These include annual maize production of 10 million metric tonnes, electricity generation capacity of 10,000 megawatts, five million tourist arrivals and copper production of three million tonnes.

He said Zambia had substantial mineral resources, water, agricultural land and a youthful population, but that these advantages would deliver limited benefits without investment, effective institutions, relevant skills and a strong commitment to implementation.

“We have to change our mindset. We have to be a go-get society. Citizens, businesses and public institutions must identify opportunities and contribute to national development objectives,” the Minister emphasised.

Musokotwane said achieving the agricultural targets would require investment in roads, irrigation, electricity and other infrastructure to enable farmers, processors and transporters to participate in expanding value chains.

The Zambian delegation also engaged IMF African Department Director Zeine Zeidane, with discussions following Zambia’s staff-level agreement on a proposed three-year Extended Credit Facility of approximately US$1.5 billion.

The proposed facility remains subject to approval by IMF management and the Executive Board.

On mining, Musokotwane said the Government expected the national aerial geological survey and related exploration initiatives to translate into commercially viable projects, mineral processing, increased participation by local businesses and job creation.

“The Government’s priority is now to convert these engagements into bankable projects, disciplined financing and effective reforms that safeguard stability while delivering more jobs, stronger Zambian businesses and higher household incomes,” he said.

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