Sunday Chanda Welcomes K5 Billion SRF, Calls for Transparent Implementation
Kanchibiya Member of Parliament, Hon. Sunday Chanda, has shown strong support for the Bank of Zambia’s K5 billion Stability and Resilience Facility (SRF). He described it as a timely initiative designed to address the economic and financial challenges caused by the 2023/24 drought and energy shortages.
This facility, according to Hon. Chanda, can play a critical role in stabilizing the economy, especially in the agriculture and energy sectors. These sectors have been severely impacted, leading to food insecurity, rising production costs, and challenges within the financial sector. He emphasized that the SRF could help mitigate the negative effects of external shocks on vulnerable industries and households.
“The SRF has the potential to support agriculture, enhance financial stability, and reduce economic shocks,” said Hon. Chanda. He stressed the facility’s importance in combating food insecurity and rising production costs, particularly in rural areas.
Hon. Chanda also pointed out that while the SRF provides much-needed short-term relief, there must be a focus on long-term solutions. He called for significant investments in climate-resilient agriculture and renewable energy. By addressing these systemic issues, Zambia can build a more sustainable future.
Moreover, Hon. Chanda advocated for the creation of a transparent framework for the SRF’s implementation. He emphasized that clear criteria should guide the distribution of funds, ensuring that those most affected by the crisis benefit from the facility. “There must be accountability and oversight to prevent any misuse of funds,” he added.
Additionally, the MP recommended that regular assessments of the SRF’s impact be conducted. This would help measure progress and identify any necessary adjustments. Such evaluations are crucial to ensure that the facility achieves its intended goals.
Hon. Chanda believes the SRF should be part of a broader economic recovery strategy. He emphasized the importance of job creation, energy sector reforms, and industrialization as part of the comprehensive plan. These initiatives will help Zambia become a more resilient and inclusive economy in the long run.
In conclusion, Hon. Chanda reaffirmed his commitment to advocating for policies that uplift vulnerable communities and strengthen key sectors. He expressed optimism that the SRF will provide meaningful support to small-scale farmers, businesses, and households across the country.
Hon. Chanda aligned the SRF with Zambia’s Vision 2030 and the 8th National Development Plan. He believes that through collaboration and focused efforts, Zambia can build a stronger, more resilient economy.
