ZAMBIA
SIGNS U$120 MILLION CLIMATE CHANGE PROJECT
The Zambian Government in partnership with the African
Development Bank and World Bank on Friday 14th March 2014 signed a
U$ 120 Million climate resilience Project.
The project which will run over for the period of
five years in nine districts of the Kafue Sub-Basin is aimed at mitigating the
impact of climate change.
According to the Ministry of Finance Permanent
Secretary Pamela Kabanda the project will strengthen the capacity of 800,000
farmers.
Speaking at a signing ceremony in Lusaka Ms Kabanda
noted that there is need for transformational revolution in dealing with climate
change adding that the Zambian government is doing so by providing funding
towards climate resilience project.
At the same occasion Agriculture and Livestock Deputy
Minister Greyford Monde observed that strengthening of climate resilience in
the Kafue Sub –Basin will help people in the area to deal with the impact of
climate related challenge.
Mr. Monde explained that the Sub-Basin has immense
potential for agriculture productivity but the area has been hindered by
extreme weather such as drought and floods.
And African Development Bank (AFDB) President Donald Kaberuka noted that
Zambia will lose U$50 billion in economic growth annually if interventions to
mitigate climate change are not put in place.
Mr. Kaberuka charged that climate change is a
poverty issue and there is need to put in place policies anchored on
innovations that reduce threats on the ecosystem hence ensuring sustainable
development.
“
In the absence of adaptation 300,000 people will live below the poverty line
costing U$ 3.4 million in Gross Domestic Product (GDP) resulting in 0.9 percent
in GDP”, he said.
He observed that the Kafue Sub-Basin is expected to
suffer more in terms of pollution, deforestation and poor harvest consequently
there is need to reduce vulnerability and increase sustainability through
timely disbursement of funds.
The AFDB president was speaking in a speech read on
his behalf by Bank principal agriculture economist Gbelli Leandre.
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