By MAIMBOLWA MULIKELELA –

ZAMBIA will spend about K50 million to host the African Development Bank (AfDB) annual meetings this month, Secretary to the Treasury Fredson Yamba has said.
The meetings will take place from May 23-27, 2016 at the Mulungushi International Conference Centre in Lusaka.
This is the bank’s largest annual event, and its biggest window on the world.
Mr Yamba said the Government would spend about K50 million to host the AfDB annual meetings to be held in Lusaka.
He said this at a joint meeting for AfDB and Ministry of Finance on Zambia’s hosting of the 2016 AfDB annual meeting in Lusaka yesterday.
The AfDB event will bring together some 4,000 delegates and participants, and feature 40 official events, in addition to the annual meetings of the board of governors, which constitutes the core purpose of the meetings.
“We will spend about K50 million, which is US$5 million, but this is an estimation…we may spend less or more to host the AfDB annual meetings, but you must also understand that the AfDB is also putting in something,” he said.
Mr Yamba said preparation had reached an advanced stage with accommodation, transport and the venue of the event having been inspected.
He said his ministry had been working closely with the AfDB and in collaboration with the private sector organisations.
He said a special desk had been established at the airport for VIP guests.
AfDB resident Damoni Kitabire said the bank has a commitment of US$2 billion to the Zambian economy from 1972 to-date.
Mr Kitabire said his bank had provided nearly US$900 million worth of investments in Zambia’s key productive sectors.
Mr Kitabire said currently AfDB was working on the Country Strategy Paper (CSP) for Zambia which would outline the programmes the bank would support in the next five years.
He said his bank would focus on supporting infrastructure development and private sector as it was key to the growth of the Zambian economy.
The theme of this year’s meeting is “Energy and climate change.”