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Tuesday, January 31, 2023
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HomeNewsHH HOLDS TALK WITH WORLD BANK

HH HOLDS TALK WITH WORLD BANK

PRESIDENT Hakainde Hichilema yesterday held talks with World Bank Group President David Malpass where the two discussed issues of completing a Memorandum of Understanding (MoU) with the country’s creditors.

He said he was delighted to speak with Mr. Malpass about the progress the country was making towards debt reduction.

“To this end, we discussed the importance of speedily completing a Memorandum of Understanding (MoU) between Zambia and the official bilateral creditors as well as a subsequent agreement with commercial creditors,” President Hichilema said in a Facebook post yesterday.

He said Zambia was grateful for the World Bank’s support as the Government worked to repair the economy, create jobs and reduce the cost of living for the people.

The talks came after the International Monetary Fund (IMF) executive board last week approval of Zambia’s US$1.3 billion Extended Credit Facility (ECF) to help stabilise the economy.

So far the fund had already released the initial US$185.7 million.

In another post, President Hichilema said the Government was training 3,200 teachers in digital literacy to develop a workforce that was ready for the jobs of the future.

He said by offering free education and sending new-recruited teachers to all parts of Zambia, the Government was pushing for increased literacy levels to empower more people because literacy opened the doors of opportunities.

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