Jane Chanda
Kanchibiya Constituency member of parliament Sunday Chanda says the K5 billion Stability and Resilience Facility (SRF) launched by the Bank of Zambia (BoZ) is a proactive step towards addressing the economic and financial challenges posed by the 2023/24 drought and energy shortages.
Chanda is of the view that the SRF could stabilise the economy by supporting agriculture, enhancing financial stability, and mitigating external shocks, thereby, addressing food insecurity, rising production costs and financial sector struggles.
In a statement, Chanda emphasised the need for transparency in the implementation of the SRF, ensuring that the most affected and viable businesses benefited from the facility.
He noted that clear transparent criteria must guide the disbursement of funds and mechanisms for accountability and oversight would be established to prevent misuse.
“The disbursement of funds must be guided by clear, transparent criteria to ensure that the most affected and viable businesses benefit,” Chanda stated.
He also pointed out the need for the SRF to focus on long-term resilience, addressing systemic challenges such as investment in climate-resilient agriculture, renewable energy, and value addition to agricultural produce.
Chanda further noted that that while the SRF provided short-term relief, it was crucial to address the underlying challenges facing the economy.
“Regular assessments of the facility’s impact should be conducted to measure progress and inform necessary adjustments,” Chanda stated.
He emphasised that monitoring and evaluation were crucial in ensuring that the SRF achieved its intended objectives.
“To build a more resilient and inclusive economy, we need a broader economic strategy that addresses the root causes of our economic challenges,” he added.
The members of parliament further highlighted the need for a comprehensive economic recovery plan.
He stated that the SRF should be part of a larger plan that included job creation, energy sector reform and industrialisation.
Chanda stated that the SRF should align with Zambia’s long-term development goals, including Vision 2030 and the 8th National Development Plan, by advocating for policies and initiatives that uplift vulnerable communities, strengthen key sectors, and promote inclusive economic growth.
He further expressed his hope that the SRF would translate into meaningful support for small-scale farmers, businesses and households across the country.
“Together, we can build a resilient Zambia that leaves no one behind,” stated Chanda.
