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World Bank approves US$ 225,000 to Zambia

• It is imperative that data that is generated from natural capital accounting enhances policy decision-making.
• Following Zambian Government’s request to the World Bank to extend support to the WAVES Programme, the Bank has approved the technical assistance.
• Zambia will therefore be benefiting from the GPS through a Technical assistance and Capacity building.

Ministry of National Development Planning says the World Bank has approved an extension of US$225,000 technical assistance to Zambia for the continued implementation of the Wealth Accounting and Valuation of Ecosystem Services (WAVES).

In a statement issued to Money FM News Ministry Permanent Secretary Development Planning and Administration, Chola Chabala said the WAVES programme has, thus far successfully completed compiling reports in three priority areas, namely; Forestry, Lands and Water and these were launched in 2020 while the Energy, Tourism and Minerals accounts are under development.

Mr. Chabala says it is imperative that data that is generated from natural capital accounting enhances policy decision-making on allocation and use of natural resources.

Meanwhile, World Bank Senior Environmental Economist Ngao Mubanga says following the Zambian Government’s request to the World Bank to extend support to the WAVES Programme, the Bank has approved the technical assistance.

“Seeing the progress Zambia has made in the other Accounts, it was decided that support will be given to the development and publication of the tourism account as it would help us look at ecotourism services and other value chains that can be developed in this respect,” said Ms. Mubanga.

She explained that a monitoring and evaluation aspect will be added to the programme.

“WAVES is now part of the broader World Bank umbrella initiative, the Global Programme for Sustainability (GPS),” she added.

Ms. Mubanga noted Zambia will therefore be benefiting from the GPS through a Technical assistance and Capacity building for Institutionalizing and mainstreaming of Natural Capital Accounts for policy application.

“This support is building on from the works done on Zambia WAVES in the country,” the Bank added.

According to the statement issued by Ministry Spokesperson, Chibabula Silwamba, The extension of the support to the WAVES programme comes in the wake of global recognition of Zambia, through the Ministry of National Development Planning, as one of the top performers in the region in addressing climate change.

The Ministry’s Strengthening Climate Resilience in the Kafue Sub-basin (SCRiKA) in January this year won the African Water Change Makers (People’s Choice) Award at the 2021 Climate Adaptation Summit.

The Government of the Netherlands and the Global Water Partnership (GWP) co-organized the climate adaptation summit, which is aimed at creating actions that will accelerate African adaptation

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