- Loan terms extended with an 8-year grace period and 25-year repayment timeline.
- IMF disburses $184 million to help Zambia manage drought effects and economic pressures.
Lusaka, Zambia – Zambia’s Parliament has approved an amendment to the 2024 Annual Borrowing Plan, authorising the government to secure $108 million from the African Development Bank (AfDB). The revised loan, approved during a December 17 sitting in Lusaka, is aimed at stabilising the country’s 2025 budget and preventing further economic strain.
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