Zambia acquires another US$25 million debt

India has committed a US$25 million (K30 billion) loan facility for enhancing agricultural activities in Zambia.
Zambia’s acting High Commissioner to India Sikapale Chinzewe told ZANIS in New Delhi that the Indian government has agreed to lend Zambia US$25 million to be invested in the agriculture sector.
Mr Chinzewe said the Indian government is currently waiting for relevant modalities to be finalised by Zambia before releasing the money.
“The Indian government has committed this and what is being awaited are the modalities so that these monies can then be offloaded onto Zambia and then used in the enhancement of agriculture,” he explained.
Mr Chinzewe also said that the 650 rural health posts being built in Zambia are through lines of credits from the government of India.

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