Sweden gives Zambia about K3 billion

The Swedish government has committed 2.25 billion Swedish Kronor about K3 billion in its 2018-2022 development cooperation strategy for Zambia.

Swedish State Secretary for International Development Per Olsson Fridh and Minister of Finance Margaret Mwanakatwe have since signed a bilateral agreement for the cooperation strategy.

The new strategy which is aligned to Zambia’s 7th National Development Plan, AU Agenda 2063 and the UN Agenda 2030, is meant to strength the development cooperation between Zambia and Sweden.

Speaking during the signing ceremony of the bilateral agreement in Lusaka, Mr. Fridh said the strategy is meant to achieve results in areas of human rights, democracy, rule of law and gender equality.

He says the strategy will also cover areas of equitable health, sexual reproductive health and rights, nutrition, environment, climate, renewable energy and sustainable development.

And Finance Minister Margret Mwanakatwe says the implementation of the development cooperation strategy will compliment the Zambian government’s efforts in financing critical development programmes.

She has assured the Kingdom of Sweden that the Zambian government will remain committed to ensuring that this strategy is successfully implemented.

Mrs. Mwanakatwe says Zambia looks forward to improving its bilateral cooperation with Sweden through the broadening of bilateral trade and Foreign Direct Investments.

She is concerned that trade between the two Countries is skewed in favour of Sweden as evidenced by how Zambia’s exports to Sweden in 2018 only stood at US$ 1.4 million while imports from Sweden stood at US$ 89.5 million.

The signing of the bilateral agreement for the development cooperation strategy was witnessed by Swedish ambassador to Zambia Henrik Cederin.

News source: QFM Radio

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