AfDB to support Job Creation in Zambia with US$ 33.6 Million Loan

African Development Bank

AfDB to Support Skills Development for Job Creation in Zambia with US$ 33.6 Million Loan

The African Development Bank issued the following news release: The Board of Directors of the African Development Bank Group (AfDB) on 20 November 2013 in Tunis approved a loan of UA 22.22 million or US $33.6 million from African Development Fund (ADF) concessionary resources to finance the Support to Science and Technology Education Project (SSTEP) in Zambia . The project is designed to support Zambian government’s commitment to improve the quality and relevance of skills development in Zambia for job creation and employability of graduates. Making the presentation to the Board of Directors, the project team led by Boukary Savadogo , manager of the Division of Education , Science & Technology said the project will play a critical role in promoting human capital development in the country by enhancing its competitiveness in the global economy through improved employability of graduates in general and the youth in particular. “The project is in line with the Zambian government’s Revised Sixth National Development Plan 2013-2016, as well as the Bank’s Ten Year Strategy for 2013-2022. It will have a direct impact on increasing access to quality higher education and skills development particularly for girls and women in rural areas,” Savadogo underscored. The Board of Directors expressed satisfaction with the gender, inclusive growth and job creation aspects of the project in line with the Bank’s New Education Model in Africa (NEMA) under the Human Capital Strategy.