The World Bank has loaned Zambia 40 million US dollar to improve financial management to meet a key condition for debt relief under an initiative of the bank and the IMF.
The bank said that the cash was meant to strengthen Zambias fiscal management and to improve public sector management. A senior Treasury official said the money would be used to launch a so-called integrated financial management information system (IFMIS) to improve the management of finances, demanded by the IMF before Western lenders can provide 3,8 billion dollar debt relief to the impoverished southern African country.
Kilde: www.worldbank.org
