The Ministry of National Development Planning has called in African leaders, multi-lateral development finance institutions and key developmental partners to increase their support to national development banks.
Minister in charge Alexander Chiteme says this will enable the banks effectively contribute to the speedy implementation Sustainable Development Goals (SDGs).
Mr. Chiteme was speaking when he delivered a keynote address titled: “the unique and important role of national development banks in Africa” at the conference organised by the Sustainable Development Goals (SDGs) Centre for Africa conference on ‘SDGs Implementation in Africa.
“National development banks are hugely important to sustainable development in Africa. They must now receive the attention they deserve from all stakeholders including regulators, larger multi-lateral development finance institutions and other key development partners in order to enable them to realise their full potential,” said Mr. Chiteme.
The Conference will serve as a prelude to the 7th Board Meeting of SDGs Centre for Africa on Friday when Heads of State and Government are expected to deliberate on the SDGs implementation.
Mr. Chiteme has observed that though development banks play a key role in national development, there were still areas where improvements needed to be made to effectively contribute to Zambia’s sustainable development.
“We must improve the risk profile of the bank’s financing so that there is increased investment in key development sectors, such infrastructure, energy, industrialization, agricultural and related sectors. We must determine different and better options for fundraising and long-term capitalization which will enable the bank to access affordable sources of funding to finance projects contained in national development plans and the SDGs,” he notes.
Support Banks to improve SDG implementation – Chiteme
