Govt. advised to channel part of the Euro-bond on rehabilitating feeder roads

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Hand Road Construction
Hand Road Construction

An agriculture expert in Luapula Province has advised the Zambian government to channel part of the Euro bond funds on rehabilitating dilapidated roads in rural areas.
Luapula Agricultural and Rural Development (PLARD) Chief Technical Advisor John Steel says the agriculture sector is critical to Zambia economy.

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Mr. Steel says improving roads in rural areas would help accelerate delivery of agro-produce.

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He was speaking in an interview with ZANIS in Mansa, April 16th.

He observed most people in Zambia do subsistence farming and lack the necessary basic needs such as asset loans and land.

Government recently acquired k 6.400 trillion ( US $ 1 billion Eurobond) a move that has unsettled sections of society, who have received the development with uncertainities.

But Finance Minister Alexander Chikwanda defended the newly acquired euro bond saying it was proof that international investors have confidence in Zambia’s economy.

Mr. Chikwanda observed that the oversubscribed bond is an indication that government was on the right track and had the confidence of key stakeholders.

About 56% of the US$1billion bond was sourced in the United States.

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