WE WELCOME THE US$270 MILLION GRANT FROM THE WORLD BANK
Lusaka, Wednesday, 21stFebruary, 2024
Finance and National Planning Minister Dr SITUMBEKO MUSOKOTWANE says the Zambian Government welcomes the approval of a US$270 million GRANT by the World Bank for improvement of transport and trade between Tanzania and Zambia under the Transport Corridors for Economic Resilience (TRACER) Project.
The Minister says the gesture by the World Bank is a powerful affirmation of the confidence that it has in not only development policies but also in the regional integration initiatives such as the TRACER Project that are pursued in collaboration with neighbouring countries.
The US$270 million GRANT also marks a significant commitment by the World Bank and the Zambian Government to improve connectivity to east African sea coasts and boosts regional trade and transport integration.
Tanzania – Zambia corridor to get some relief from the current
transport related gridlock caused by years of infrastructure disrepair and divided attention to efficiency requirements in our quest for economic resilience to the along the corridor and cross border traders between.
The TRACER Project will improve transport and trade facilitation along the corridor by rehabilitating the Serenje-Mpika section of the corridor, developing a One Stop Border Post (OSBP) at Nakonde, and converting the existing corridor into a SMART version.
The six-year TRACER project aims at improving efficiency, connectivity, and climate resilience of key regional transport and trade corridors in Eastern and Southern Africa.
Issued by:
(Original Signed)
Office of The Secretary to the Treasury
Ministry of Finance & National Planning