Germany grants Zambia EUR18.5mn COVID Emergency Relief, advises on need for IMF package

Germany has made available EUR18.5million to Africa’s second largest copper hotspot Zambia for COVID relief purposes. This is part of Germany’s EUR525millionGlobal Response Initiative in addition to EUR1.57billion earmarked for global health projects. Through global humanitarian appeals from the United Nations and the International Red Cross and Red Crescent Movement, the largest economy in the Euro area is assisting developing nations with relief packages.

Zambia is one African nation that is yet to receive assistance from the Washington based lender IMF after key economies have been assisted with Nigeria allocated $3.4billion, Ghana $1billion, Ivory Cost $886million, Kenya $739million to mention but a few. Zambia has formally written to the IMF applying for emergency relief as it shortlists advisors for the debt re-organisation initiative it is currently embarking on.

Germany is committed to supporting Zambia in a difficult time and as such  through its Zambian Office announced the assistance to the copper producer.

Announced in Lusaka today was an EUR18.5million package that will cushion impact of the disease pandemic through expanding social protection measures through cash transfers, provision of support to the health system, provision of access to essential water and sanitation. 

His Excellency, Ambassador Achim Burkart the Germany Ambassador to Zambia advised that the copper producer to re-prioritize government expenditures to safeguard the vulnerable and should actively address the debt crisis to prevent the breakdown of public finances through speeding up reforms and negotiations with the IMF.

The Kwacha Arbitrageur