World Bank allocates $207.6 million in grants to Zambia

The World Bank has approved a grant of $207.6 million to mitigate the effects of drought in Zambia.

Azernews reports, citing foreign media that this funding will support approximately 1.6 million families in the framework of the social assistance program in 84 regions affected by drought.

Zambia's finance and national planning minister Situmbeko Musokovane thanked the World Bank for the funding, saying the support would complement the government's drought response plan. He said that the approval of the second additional financing by the World Bank will strengthen the existing social protection programs and mitigate the negative effects of the drought faced by the country against the background of limited domestic resources.

It should be noted that the drought during the 2023-2024 farming season caused great damage to Zambia.