The World Bank says it has approved a $270m (£232m) loan to Zambia to help it recover from the effects of the coronavirus pandemic, and the economic impact of the war in Ukraine and to manage its debt crisis.
In late 2020 Zambia became the first African country since the onset of the pandemic to default on its debt.
In August, the International Monetary Fund approved a $1.3bn loan to help Zambia - a major copper producer - restructure its debts.
The president of the World Bank has urged other creditors to help reduce Zambia's debt.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Football Impact Africa’s Ghetto Love Initiative inspires change in Teshie
8 mins -
Peter Toobu calls for tighter border security over uncovered weapons at Tema Port
11 mins -
Gov’t has failed its commitment to IPPs – Ablakwa
14 mins -
Sell Chrome to end search monopoly, Google told
26 mins -
KATH to install seven new dialysis machines by end of November
30 mins -
Walewale: Police confiscate 37 bags of cocoa beans suspected of being smuggled out of Ghana
40 mins -
‘Expired’ Rice Scandal: FDA confirms rice was safe for consumption after rigorous lab tests
46 mins -
Many women have experienced intimate partner violence – Angela Dwamena Aboagye
1 hour -
Power challenges persist due to government’s mismanagement of revenues – Okudzeto Ablakwa
2 hours -
Jordan Ayew injury not as bad as feared – Leicester City boss
2 hours -
Stonebwoy heads to North America for UP & RUNNIN6 tour
2 hours -
FDA explains extension of best-before date for ‘expired’ rice
2 hours -
Rebecca Akufo-Addo, Mahama storm Akuapem North as NPP NDC slugs it out
2 hours -
Fatawu’s injury a big blow for us – Leicester City manager
2 hours -
No MC has influenced pop culture in 2024 more than me – Portfolio
2 hours