March 29, 2016 / 4:52 PM / 4 years ago

African Development Bank agrees to lend Zambia $125 million

LUSAKA (Reuters) - The African Development Bank has agreed to lend Zambia $125 million on concessional terms for the improvement of sanitation, food security and support to women entrepreneurs, the government said on Tuesday.

Finance minister Alexander Chikwanda and African Development Bank country manager Damoni Kitabire signed the loan agreement in Lusaka on Tuesday, the ministry of finance said.

A ministry statement said that $50 million would be used to upgrade sanitation in the southern African country’s capital, earmark $45 million on a project to boost food security and $30 million on support to women in business.

Reporting by Chris Mfula; Editing by Mark Heinrich

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