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European Investment Bank Pledges €20 Million for Agricultural Investment in Zambia

The State House yesterday played host to a distinguished delegation from the European Investment Bank (EIB) today, led by its Vice President, Mr. Thomas Östros. The meeting reaffirmed Zambia’s pivotal role as the EIB’s largest partner in Southern Africa, showcasing the strength of the enduring partnership between Zambia and the European Union.

A highlight of the meeting was the launch of a €20 million investment aimed at driving agricultural growth in Zambia. This initiative is a collaborative effort between the EIB and First Capital Bank, and it forms part of the EIB’s Pan-African Green Agriculture Value Chain. It promises to make farming more accessible and appealing, sending a clear message to citizens to view agriculture as a viable business opportunity.

President Hakainde Hichilema expressed his appreciation for the EIB’s commitment to partnering with the private sector to enhance productivity and production in Zambia. This aligns with Zambia’s government strategy to elevate the agriculture sector as a cornerstone of the nation’s economy.

Looking ahead, both parties are optimistic about further collaborations between the EIB and the private sector. These partnerships will extend to high-impact areas such as water harvesting, agricultural mechanization, and more accessible financing options. These efforts are expected to generate employment opportunities and secure livelihoods for the people of Zambia.

The joint endeavors between the European Investment Bank and Zambia are poised to usher in a new era of sustainable growth and development for the nation.