Germany invests 62.98 million euros to support Zambian development

Germany on Wednesday provided a 62.98-million-euro fund for Zambia’s development projects for 2019-2020, according to a release later on the same day.

The fund aims to support financial governance, civil societies, decentralization and renewable energy utilization and capacity building, among other projects.

“The negotiations focused on ongoing and future programs in development cooperation and took place in a candid, constructive and cordial atmosphere reflecting the true relations between both countries,” according to the release signed by Dressing Yamba, the Zambian Treasury secretary and Alois Schneider, head of Division for Southern Africa of the German Delegation.

According to the release, Germany highlighted zero tolerance to corruption in all development programming and expressed concern about recent cases of misapplication of donor funds.

The German side also pledged more investment in Zambia’s water sector pending an ongoing audit of a rural water program, stressing the importance of effective governance.

For its part, the Zambian government vowed commitment to crack down on all forms of corruption and strictly implement public financial management reforms.

Both sides agreed that joint programs will prioritize accountability and transparency to deliver better services to their citizens, it added.

Source: Xinhua

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