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Last updated at: (Beijing Time) Thursday, July 11, 2002

Western Donors Pledge 1.3 Billion US Dollars for Zambia

Western donors pledged Wednesday togive Zambia 1.3 billion US dollars in budget support and project grants, according to a senior World Bank official.


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Western donors pledged Wednesday togive Zambia 1.3 billion US dollars in budget support and project grants, according to a senior World Bank official.

Yaw Ansu, World Bank country director for Zambia, told reporters about 60 percent of the 1.3 billion dollars would be given to Zambia in the form of grants, with the rest in loans, in support of its three-year economic program.

Ansu said the donors, which included the World Bank, the International Monetary Fund, the European Union, the United Statesand Canada, agreed to give Zambia 86 million dollars to bridge a gap in its 2002 budget as part of the support, he said.

"In an unprecedented show of support," said Ansu. "delegates pledged some 1.3 billion dollars for 2002 to 2003 in both budgetary and project support -- a substantial portion of it will be in form of grants."

Part of the grants would go towards AIDS programs, with anotherportion allocated to improving Zambia's food security.

In Zambia, one in every five people has AIDS or the HIV virus. Also, up to four million Zambians are facing starvation after drought caused a massive shortage of maize.

Meanwhile, Zambian Finance Minister Emmanuel Kasonde said he was happy with the pledges.

He said the Zambian government would easily meet the goals of its national budget this year as the total pledges are well above the expected shortfall.

Zambia had hoped for 100 million dollars to help cover its budget deficit for this year.

Zambia is a land-locked poor southern African country with a population of 10 million, three quarters of whom live well below the World Bank poverty threshold of one dollar a day.


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