Finance releases K115m to FRA
By KALOBWE BWALYA THE Ministry of Finance has released K115 million to the Food Reserve Agency (FRA) to facilitate the settlement of some dues in the reserve food purchasing chain and a financing plan is underway to release an additional K85 million in a fortnight.
A few days ago, the Treasury released K400 million for the e-voucher and Farmer Input Support Programme (FISP) to ensure the smooth management of the affairs of the agriculture input supply management system.
In a statement to Daily Nation, Ministry of Finance public relations officer Chileshe Kandeta said to maintain the economic diversification drive, Government will during the 2017/2018 farming season, fully migrate to the e-voucher system that is aimed at covering an estimated one million beneficiaries.
Mr Kandeta said Government has obtained financing of US$40 million from Exim Bank of India that will be used for agriculture mechanisation.
He said in addition, Government is facilitating a US$100 million public private sector investment into a tractor and agriculture equipment assembly plant in the Lusaka South multi facility economic zone.
“In 2018, Government will continue with the implementation of the US$50 million Zambia Aquaculture Enterprise Development Project. To support accelerated productivity in the wider agriculture sector, Government will in 2018 also recruit 750 extension service workers for agriculture, fisheries, and livestock.
For the Ministry of Finance, all these efforts are proof of Government’s resolve and firm standing in diversifying the economy through labour intensive sectors like agriculture,” said Mr Kandeta.