Zambia has made progress economically – Musokotwane

Zambia has made progress economically – Musokotwane
By Mutale Kapekele
Wed 17 Mar. 2010, 22:50 CAT

FINANCE minister Dr Situmbeko Musokotwane has said Zambia has made tremendous progress economically compared to other countries within sub- Sahara Africa.

This is according to a statement released by first secretary (press) Ben Kangwa.
Dr Musokotwane was speaking when he met officials from the Millennium Challenge Corporation (MCC) in Washington.

He attributed the growth to the country’s investor-friendly climate such as peace and stability and laws that respect private property rights which were conducive to business.

Dr Situmbeko said he hoped that the MCC would consider Zambia for higher compact funding scheme.

He said the Zambian government would monitor MCC policy indicators in order to meet the scheme’s benchmarks.

Dr Situmbeko said Zambia was in a hurry to develop in sectors such as energy, road network, tourism, mining, manufacturing, education and vocational training.

Earlier, Millennium Challenge senior advisor to the chief executive officer Cassandra Butts expressed satisfaction with Zambia’s progress at boosting investment and growth.

MCC is an initiative of the American government to fight poverty through sustained economic growth.

Several countries that had registered consistent positive growth were currently accessing funds from the MCC scheme.