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Development Bank spending on hold

    JOHANNESBURG

    The Development Bank of Zambia (DBZ) has suspended all loan disbursements because of its unhealthy financial position while it awaits government approval for restructuring.

    Media reports said DBZ had access to US $15.9 million from the World Bank’s International Development Association for onward lending to coffee and rose projects. However, this had been put on hold until DBZ restructuring proposals were approved by President Frederick Chiluba’s cabinet.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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