<p></p><p>Zambia has signed a loan agreement with the African Development Bank-ADB – worth approximately One billion Kwacha to finance various projects. <br></p> <p>Finance Minister Alexander Chikwanda says the three loans are concessional with an interest rate of less than two per cent with a twenty year maturity period. <br></p> <p>Mr Chikwanda disclosed in Lusaka during the signing ceremony that the loans will be used to finance Lusaka Sanitation programme and climate resilient sustainable infrastructure. <br></p> <p>He said the other loan facility will be used to finance the cashew nut infrastructure development project. <br></p> <p>Mr Chikwanda said the other monies will be used for skills development and entrepreneurship project which will also target women and youth. <br></p> <p>He said cashew development which aims at reviving the cashew sub sector is one of government’s priority projects. <br></p> <p>Speaking at the same function, ADB resident representative Damoni Kitabire reiterated the bank’s commitment to supporting Zambia’s development agenda. <br></p> <p>Mr. Kitabire said the signing of the loan facility marks a milestone for the already existing partnership between Zambia and ADB which dates back to 1965. <br></p> <p>He is hopeful the financing of the projects will creates jobs and spur development.<br></p><p></p>