By KENNEDY MUPESENI –
ABOUT US$648 million World Bank Group financing portfolio for Zambia has been lying idle since 2010 due to the complexity and comprehensive planning prior to the disbursements.
World Bank Zambia senior operations officer Chrissie Kamwendo said of the total $865 million commitment for Zambia, $648 million has not been disbursed since 2010.
Ms Kamwendo cited that the bank was supposed to disburse over $94 million by  December  last year ,but only  disbursed about $26 million during  the  financial year which began in July,2015  and ends in June,2016.
She was speaking when she appeared before the parliamentary committee on economic affairs chaired by Mazabuka Constituency Member of Parliament Garry Nkombo.
Mr Kamwendo said the bank’s financed projects in Zambia contribute to the realisation of the Government’s development agenda as articulated in the Sixth National Development Plan (SNDP).
She said out of the 15 target projects in Zambia, 26 per cent was for agriculture sector, 18 per cent for water and sanitation with energy sector accounting for 17.7 per cent and the rest distributed around environment and others.
For the past six years, the bank had not disbursed to the minimum.
“For example ,for the  financial year which for the bank begins in July,2015  and ends in June,2016, we are supposed to disburse  about $94 million ,however by  December  last year ,we had only disbursed about $26 million.
“Disbursements have been rather slow, but the bank and the Government of Zambia are working on measures to ensure all project funds are disbursed in a timely manner for improved access to services by the Zambian people,” she said.
Ms Kamwendo said the bank would continue working in partnership with Zambians to reduce poverty.
“We will continue contributing to the achievement of both the Government’s goals and the World Bank’s twin goals of eliminating
extreme poverty by 2030 and boosting shared prosperity,” she said.
She said that the adoption rate in Zambia was low and added that a portfolio meeting was held in December last year to come up with how best the adoption rate could be increased.
“The agreement ,cross monitoring and commitment from high levels of Government including the secretary to the treasury  will improve things and hope that we can disburse the $94  million which we are supposed to disburse by the end of June this year,”  she said.