LUSAKA, Oct. 9 (Xinhua) -- The World Bank has approved a new five-year partnership framework to support Zambia in achieving sustainable private-sector-led economic growth, according to a statement received on Wednesday.
The framework, which will run from fiscal year 2025 to 2029, is also expected to help the southern African nation enhance climate resilience and improve the well-being of its people.
According to the statement, the framework will focus on three areas including creating more and better jobs, improving human capital, and enhancing climate resilience.
It added that under the framework, the International Finance Corporation will promote sustainable private sector development by working to improve agriculture productivity, deepen financial inclusion, and increase access to cleaner energy.
Despite improvements in education, health, and social protection, the statement noted that challenges remain in access to and quality of services, adding that the framework will support efforts to enhance service delivery to improve human capital outcomes and reduce persistent poverty.
World Bank Country Manager for Zambia Achim Fock said the new framework outlines the bank's engagement to support Zambia during a critical time of recovery from shocks and refocus on inclusive and more resilient growth and job creation. ■