Govt to spend $1.5bn on agriculture,food projects-Mtolo

By Sylvia Kabala
(ZNBC News)

Government is to set aside $1.5bn for Agriculture and food Compact projects so as to encourage development partners to bring in more financing towards the projects.

This came to light when President HAKAINDE HICHILEMA met the AfDB and development partners on the sidelines of the Dakar 2 Summit to showcase Zambia’s investment environment and projects tailored to support growth in agriculture.

This is in order for the country to obtain funds from the $10bn AfDB Compact support to finance agricultural components of the deliverable Compacts.

President HICHILEMA chaired the meeting during which Agriculture Minister REUBEN MTOLO presented Zambia’s investment needs within the framework of mobilising financing and investment for the Food and Agriculture Deliverable Compacts.

Mr. MTOLO said the apart from the plan of increasing output of Wheat, Maize and Soya bean, the government is promoting diversification in agriculture to achieve national food security.

The ADB yesterday announced a $10bn support package for Food and Agriculture deliverable Compacts in Africa.

The Food Compacts have been developed for selected countries to use their comparative advantages to increase productivity of identified Agricultural produce with the goal of achieving Food security.

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