The European Union signs a EUR 17 million Financing Agreement to improve public financial management in Zambia
On 11 April 2018 the European Union and the Government of the Republic of Zambia signed a EUR 17 million grant agreement (equivalent to slightly more than 200 million Kwacha) to help Zambia strengthening its public finance management system.
The Programme on Effectiveness and Transparency in the Management of Public Resources (EFFECT), will contribute to the improvement of the planning, budgeting and budget implementation capacities of the Government of Zambia, as well as the capacities of the main oversight institutions- the National Assembly, the Office of the Auditor General and the Anti-Corruption Commission. It will also support the Zambian Revenue Authority in its efforts to modernize revenue collection processes so to ensure that the tax system is simpler, the tax base expanded and the compliance increased.
Funded under the 11th European Development Fund (2014-2020), the program reflects the EU approach “Collect more – spend better”, to reinforce governance, raise revenue collection, improve the quality of spending and strengthen fiscal transparency and accountability.
Through this ambitious and innovative action the EU will put at the disposal of Zambia the best expertise possible, including from highly reputed institutions from European Union Member States such as the Supreme Audit and the Anti-Corruption institutions. As indicated by the Ambassador of the European Union to Zambia and COMESA, H.E. Alessandro Mariani during the signing ceremony, “With political support, the most important ingredient, this program can greatly contribute to the strengthening of public finance management which is in the supreme interest of the people of Zambia”.
For further information, please contact:
Ms Betty VARGYAS – Betty-Diana.Vargyas@eeas.europa.eu
PFM Advisor, European Union Delegation Lusaka, Zambia