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World Bank Grants $208m To Aid Drought-stricken Zambia

Terms Nigeria must meet to access $1.5bn World Bank credit - Businessday NG

THE World Bank has sanctioned a $208 million grant to assist Zambia in alleviating the severe social and economic repercussions of a prolonged drought that has gripped the southern African nation. This announcement was made by Zambia’s finance ministry on Tuesday.

Southern Africa is facing its most severe drought in years, a situation exacerbated by the El Niño phenomenon and heightened average temperatures due to greenhouse gas emissions. These conditions have led to extreme weather patterns, severely affecting food production and the livelihoods of millions in the region.

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In response to the crisis, Zambia, along with Malawi and Zimbabwe, has declared a state of disaster. The World Bank’s grant is intended to help Zambia manage the drought’s impact by providing emergency cash payments to affected households.

‘This grant will provide support to over 1.6 million households across 84 drought-impacted districts with emergency cash assistance over a 12-month period,’ the Zambian finance ministry said in a statement. The funding is also aimed at reinforcing existing social protection programs to better assist those in need.

In addition to this, the IMF recently approved Zambia’s request to increase its financial assistance from $1.3bn to $1.7bn, further supporting the country’s efforts to counter the drought’s effects.

The substantial financial aid from international organisations highlights the critical need to address the humanitarian crisis unfolding in Zambia and the broader southern African region. These efforts aim to provide immediate relief and build resilience in communities severely affected by climate change.

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