By VITA BANDA
THE World Bank has completed a review of Zambia’s second macroeconomic stability, growth and competitiveness development policy financing under the Development Policy Operation 2 (DPO 2) financing.
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This has resulted in disbursing approximately US$125 million.
The approval of the second review of Zambia’s extended credit facility and the subsequent disbursement of US$187 million by the International Monetary Fund (IMF), opened the way for the World Bank to proceed with its decision at the sitting of the Executive Board at its headquarters in Washington DC, USA, yesterday.
The US$125 million from the World Bank is part of its multi-sectoral support to help Zambia to restore macroeconomic stability, make progress towards debt sustainability, and promote private-sector-led inclusive growth.
The DPO 2 is also meant to sustain the gains made under the DPO 1, approved in October, 2022, and which resulted in the disbursement of approximately US$275 million.
Total disbursements from DPO 1 and DPO 2 now stand at US$400 million.
This is contained in a statement made available to the media by the office of Secretary to the Treasury.
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