Lusaka, 1 July 2022 (TDI): The United States Agency for International Development (USAID) has announced a new five-year Business Enabling Project. The new project will provide $14 million to stimulate economic growth in Zambia.
According to USAID, the project intends to develop rural communities, and establish a platform for women entrepreneurs. Also, the Business Enabling Project can increase US-Zambian bilateral trade as well as intra-regional trade.
Moreover, the implementation of the project will bring the government, civil society, and private sector together within one structure.
This project was announced during USAID Administrator’s visit to Zambia. Samantha Power, the USAID Administrator, recently paid a visit to the country and met the President of Zambia, Hakainde Hichilema, and key ministers of his government.
Such meetings helped the USAID Administrator understand the country’s economic and democratic reform priorities. Additionally, she interacted with youth community leaders and journalists to cognize and assess media, press, and civic freedoms in Zambia.
Furthermore, Administrator Power also met small-scale farming communities and female farmers who are aiding in the attainment of the country’s food security levels.
The Business Enabling Project
The Business Enabling project launched by USAID broadly focuses on the development of rural communities in Zambia. Meanwhile, another priority of the project is to build a platform for the women entrepreneurs of the country.
It aims to attract private sector investment in Zambia in a multitude of fields and industries. For instance, agriculture and eco-tourism are two areas that need more investment.
Also, through the implementation, the project will contribute to the stimulation of the trade across Zambia. Simultaneously, the project also aims to incentivize sustainable resource management, and increased women’s participation in the economy of Zambia.
The project also wants to target structural barriers hindering women’s participation in the economy.
At the same time, the project focuses on introducing relevant legislation, frameworks, and regulations for the achievement of its goals. It intends that vis-à-vis the Business Enabling Project, Zambia will be more well-positioned for bilateral trade with the US as well as increase intra-regional trade volume.
Most importantly, the project designed by USAID aligns with the newly introduced Zambian government’s initiative of the Public-Private Forum. Through the collaboration, the government, civil society, and private sectors in Zambia will be brought together and their communication will strengthen.