By Cecilia Chiluba/Zambia/Lusaka
Zambia has signed an amendment agreement with the Government of the United Kingdom to restructure a loan linked to the construction of five medium and 118 mini-hospitals across the country.
Under the revised terms, the loan amount has been adjusted from US$291.3 million to US$277 million, while the final repayment year has been extended from 2032 to 2043.
The agreement forms part of Zambia’s broader efforts to manage its public debt and strengthen fiscal sustainability while maintaining investments in key sectors such as health infrastructure.
Speaking during the signing ceremony in Lusaka, Minister of Finance and National Planning, Dr. Situmbeko Musokotwane says the successful conclusion of the restructuring negotiations reflects strong cooperation between the two governments.
Dr. Musokotwane noted that the amendment agreement will ease debt service pressures and create fiscal space for critical infrastructure development and social spending.
Dr. Musokotwane reaffirmed the Government’s commitment to honouring its debt obligations.
“Government of the Republic of Zambia remains fully committed to honouring its debt obligations and will commence debt service payments to the United Kingdom in accordance with the terms of the bilateral agreement being executed,” Dr. Musokotwane stated.
And British High Commissioner to Zambia, Rebecca Terzeon, said the loan from UK export finance supported a Government of Zambia project that built 5 district hospitals and 111 mini hospitals across the country.
“I have visited the hospitals in Mazabuka and Mambwe, built by NMS International, and seen for myself facilities that are there – and across the country,” she said.
She applauded the Government for implementing ambitious economic reforms under challenging circumstances.
“We can all see that these reforms are stabilizing the economy and restoring investor confidence. Signing this bilateral agreement today is part of that commitment and determination.”
“It not only represents progress on the G20 Common Framework and Zambia’s debt sustainability, it reinforces principles of fairness, transparency, and international cooperation,” Ms. Terzeon stated.
She further hailed the Government for restructuring 100% of Zambia’s official public debt.
