World Bank Country Director Kundhavi Kadiresan has refuted reports quoting overzelous finance deputy minister Miles Sampa that the Brentwood Institution will stop budgetary support to Zambia effective next year.
Sampa, who is President Michael Sata’s nephew, is quoted in the State owned and PF controlled Zambia Daily Mail that theWorld Bank has indicated to Zambia that effective next year, it will not offer any budget support to the country following its graduation from lower income nation to a lower middle income status.
But Sampa’s statement is false as Kadiresan told the local media the World Bank will continue supporting Zambia in key areas of its economy.
She says the lender is currently in talks with government and that the outlook of support to the Zambian government will come out once the ongoing discussions are finalized.
Dr Kadiresan has also observed that the 2013 budget address by Finance Minister Alexander Chikwanda had not made it clear if public institutions managing the railways sub-sector were presently capable and equipped to implement the ambitious development plans spelt by the PF government.
Dr Kadiresan expressed worry that almost 40 per cent of the Zambian population continue to live in abject and extreme poverty.