Friday 5 November 2021

UK to invest £1bn in Zambian green energy transition

The UK has signed a new Green Growth Compact with Zambia – to drive sustainable economic growth and collaboration between the two nations.

The agreement was signed by the UK Minister for Africa, Vicky Ford and the Zambian Minister of Foreign Affairs, Stanley Kakubo.

It involves upwards of £1 billion of new investment from the UK and the doubling of trade volumes between the countries.

As part of the investment, more than £100 million will be made available to small and medium sized Zambian businesses and further collaboration will take place between the governments of both countries on renewable energy infrastructure and urban planning.

Ms Ford said: “The UK and Zambia are partners in growing greener, more stable economies that create jobs in both countries and new business opportunities.

“The Green Growth Compact is a landmark agreement that will benefit the UK and Zambia by boosting UK investment in Zambia by up to £1 billion, creating thousands of jobs and supporting green energy production.”