By Daniel Itai.
(News of The South) – The African Development Bank (AfDB) has set US$700 million aside for the private sector for diversification of the Zambian economy.
AfDB President Akinwumi Adesina said the money is for three sectors of the economy namely, agriculture, energy and movement from copper dependency.
The AfDB President said there is need for Zambia to move away from dependency on hydro to solar energy and engage in drought resistance crops.
He said AfDB is ready to help Zambia engage in the insurance of crops so that famers do not suffer when there is a drought.
Zambia’s President Edgar Lungu said solar energy is the solution to the country’s power deficit. He also observed that the private sector has a huge role to play in diversifying the country’s economy.
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