• Green Growth Compact enables Zambia and UK to formally build a stronger trade.
• The Compact will support Zambia to follow a green development pathway to contribute to global ambitions on emissions reductions
• Supporting Zambia to grow the economy sustainably is at the heart of the UK’s approach to tackling poverty

United Kingdom and Zambia have signed a new landmark partnership to drive sustainable economic growth and build on the momentum created by the historic COP26 climate summit.

A statement issued by Foreign, Commonwealth & Development Office said the Compact signed in London by UK Minister for Africa, Vicky Ford and Zambian Minister of Foreign Affairs, Stanley Kakubo sets targets for delivering billions of pounds of new investment, doubling trade volumes between the two countries, and channeling over £100million of new financial resources to small and medium sized enterprises.

Vicky Ford stated that the Green Growth Compact is a landmark agreement that will benefit the UK and Zambia by boosting UK investment in Zambia by up to £1 billion, creating thousands of jobs and supporting green energy production.

“The UK and Zambia are partners in growing greener, more stable economies that create jobs in both countries and new business opportunities.” She said.

Further, British High Commissioner to Zambia Nicholas Woolley noted the Green Growth Compact enables Zambia and UK to formally build a stronger trade and investment relationship, based on sustainability, mutual prosperity and creating opportunities for businesses and communities in both countries.

And Development Director at the British High Commission Steve Beel said supporting Zambia to grow the economy sustainably is at the heart of the UK’s approach to tackling poverty and enabling the most vulnerable to be financially supported and have the opportunity to enhance their own livelihoods.

According to the statement, the Green Growth Compact represents a voluntary plan of action between the Governments of Zambia and the United Kingdom to strengthen economic development and opportunities for both countries.

“The 2 Governments commit to work together to build a stronger, more diversified and inclusive Zambian economy that delivers economic opportunities for the majority, while delivering a stronger relationship and mutual economic benefits to Zambia and the UK.”

It stated the Compact will support Zambia to follow a green development pathway to contribute to global ambitions on emissions reductions whilst protecting Zambia’s own unique biodiversity and natural capital for the benefit of future generations.

The Compact also incorporates the support and contributions of a range of other UK partners including CDC Group, The Private Infrastructure Development Group (PIDG), The British Chamber of Commerce in Zambia and the International Growth Centre (IGC) based at the London School of Economics.