Zambia and Italy sign MoU on Sustainable Development Fund

Zambia is set to benefit from a €4.5 billion Global Fund for Sustainable Development, provided by Italy. This development follows the signing of a memorandum of understanding (MoU) on sustainable development cooperation between the two nations.

The MoU was signed in Lusaka by Zambia’s Foreign Affairs and International Cooperation Minister, Mulambo Haimbe, and Italian Ambassador to Zambia, Enrico De Agostini. This agreement marks a significant step in strengthening the long-standing bilateral relationship Zambia and Italy.

The implementation of the MoU will be managed bilaterally, involving Zambia’s Ministry of Green Economy and Environment and Italy’s Ministry of Environment and Energy. The collaboration aims to enhance sustainable development initiatives in Zambia, focusing on key areas such as environmental protection, renewable energy, and sustainable economic growth.

During the signing ceremony, Minister Mulambo Haimbe expressed Zambia’s appreciation for its enduring relationship with Italy and highlighted the importance of of the agreement for the country’s sustainable development goals.

Stefano Gatti, Director General of Italy’s Ministry of Foreign Affairs Development Cooperation, emphasised that the MoU is crucial for deepening the bilateral relations between Zambia and Italy. He underscored the potential of this cooperation to drive significant progress in sustainable development for both nations.

This MoU represents a pivotal moment in Zambia’s efforts to advance its green economy and sustainable development agenda, leveraging international partnerships to achieve long-term environmental and economic benefits.