EU allocates 652 million euros to enhance Zambia’s economic growth
THE EUROPEAN Union (EU) has dedicated a substantial amount of 652 million euros aimed at funding and supporting key sectors in Zambia.
According to EU managing director of the European External Action Service, Rita Laranjinha, this financial commitment is expected to facilitate improvements in infrastructure, agriculture, and access to essential resources as well as enhance the EU-Zambia partnership.
Laranjiinha stated that this includes a generous grant of 500 million euros as well as an additional 152 million euros that will be directed towards energy, transport, agriculture, and water initiatives.
She noted that the funding represents EU’s ongoing commitment to strengthening its partnership and promoting the country’s development project.
She was speaking when her delegation paid a courtesy call to president Hakainde Hichilema on dialogue and partnership at State House this morning.
And President Hakainde Hichilema lauded the European Union for its ongoing support and faith in Zambia’s economic recovery.
He stressed the need for the European Union-Zambia partnership to evolve beyond traditional methods, focusing on deeper economic cooperation and innovative strategies to adapt to the changing global political landscape.
He underscored the crucial role of investment and trade in driving Zambia’s economic growth, emphasising the importance of targeting specific sectors that would benefit both countries.
“We need to collaborate on investments and trade in sectors that are mutually beneficial. For instance, Zambia has significant resources in critical minerals that are in high demand and there is an opportunity to create a fruitful partnership in this sector. But to make this happen, we need to have a clear plan and roadmap for working together,” President Hichilema stated.
“To accelerate progress, we must prioritise energy as a critical area of cooperation. The higher-level framework that we have established provides a solid foundation, but now we need to dive deeper into specific transactions within the energy sector.“
He added that energy, critical minerals, agriculture, and transport infrastructure were crucial areas where the country and the EU need to work together closely.
“Whether it is building robust power networks, harnessing our mineral resources, fostering sustainable agriculture, or improving our transportation systems, our combined efforts will be the driving force behind our collective success,” added the President.
By Sharon Zulu
Kalemba April 17, 2025