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(LUSAKATIMES) World Bank Country Director not aware of plans to halt budgetary support to Zambia

World Bank Country Director not aware of plans to halt budgetary support to Zambia
TIME PUBLISHED - Tuesday, October 16, 2012, 6:28 pm

The World Bank in Zambia has said that it is not aware of reports indicating that effective next year, it will stop offering budgetary support to the country following its graduation from lower income nation to a lower middle income country.

Finance Deputy Minister Miles Sampa is quoted in some sections of the media saying that the World Bank has indicated to stop offering budgetary support.

But World Bank Country Director Kundhavi Kadiresan has said that she is not aware of such developments stating that the bank will continue to be engaged in Zambia.

Ms. Kadiresan said that Zambia is still a low middle income country and is still eligible for concessional loans.

She told journalists in Lusaka today that her office is currently in talks with the Government to see how best it can help in financing the 2013 national budget.

Ms. Kadiresan said that once the talks are concluded, the World Bank will base its support on key policy priorities.

QFM

Labels: KUNDHAVI KADIRESAN, MILES SAMPA, World Bank

posted by MrK @ 6:10 PM