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Former BoZ governor Denny Kalyalya appointed Co-Chair of IDA20 Round of Replenishment with World Bank

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Former Bank of Zambia governor Denny Kalyalya has been appointed Co-Chair of the International Development Association (IDA20) Round of Replenishment negotiations with the World Bank.

The IDA20, is a funding programme put in place by the global bank to assist selected low-income countries, from the period running 2021 to 2022.

The World Bank says it is allocating funding through the IDA faster than expected owing to the pandemic, whose effects has hit poor countries the hardest.

Apparently, the WB has already had discussions with donors to begin the replenishment process ahead of schedule, to cushion poor countries affected by the pandemic.

“In response to the COVID-19 crisis, the World Bank has “front-loaded” its spending of IDA funds to support the world’s lowest-income countries, which were intended to last through 2022, WB President David Malpass told a small group of journalists in February this year.

Meanwhile, the United Party for National Development (UPND) president, Hakainde Hichilema has congratulated Kalyalya on his appointment.

He thanked the WB for recognising Kalyalya’s vast experience and knowledge, add that this will be instrumental in coordinating negotiations among development partners and developing countries, particularly during this unprecedented crisis of COVID-19.

He writes:

On behalf of the UPND, I would like to extend hearty congratulations to Dr. Denny H. Kalyalya on his appointment as Co-Chair of IDA20 Round of Replenishment negotiations with the World Bank.

We join other Zambians in celebrating the World Bank’s recognition of his vast knowledge in matters of corporate governance, finance, economics and development, which will be instrumental in coordinating negotiations among development partners and developing countries, particularly during this unprecedented crisis of COVID-19.

We are confident that his candour and professionalism will remain a key asset as the stakeholders seek to raise over US$100 billion in development finance to pursue the Sustainable Development Goals, including the agenda on poverty reduction, climate change, gender, fragility and conflict and economic transformation. We wish him well in his new role.

Hakainde Hichilema
UPND President

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