World Business News

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Zambia and EU confirm aid arrangement will continue

Zone(s): Europe, Zambia ¦ Sector(s): Housing
[24 June 2014, Public Finance International] By Judith Ugwumadu: Both the Zambian government and the European Union have scotched suggestions that EU aid funding would be cut because of Zambia’s poor public financial management and weak monetary policy.‘Contrary to assertions by some sections of society, EU-Zambia relations are cordial and both parties are focused on achieving greater development cooperation,’ said Chileshe Kandeta, public relations officer at Zambia’s Ministry of Finance.  ‘The two partners have agreed [in January] that the European Union support to Zambia will be channelled through project support via implementation of the 11th European Development Fund Programme, once signed.’

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