By BUUMBA CHIMBULU
INDO Zambia Bank (IZB) has tinted its various initiatives supporting Government, pointing out its over K1.3 billion budget support extension in 2023.
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The bank extended finance to Government in excess of K1.3 billion for budget support as at end of 2023, as announced by the IZB Managing Director, Mr Kowdichar Shashidhar.
At the official opening of the IZB new Long Acres branch in Lusaka yesterday, Mr Shashidhar indicated that the institution was working closely with Government in implementing initiatives of national significance.
Other initiatives highlighted by Mr Shashidhar included, IZB’s role in administering the Constituency Development Fund (CDF) revolving loan facilities and its participation in the Social Cash Transfer Programme.
“In the year 2023, we have disbursed in excess of K130 million to over 1, 400 applicant’s country wide.
Mr Shashidhar also mentioned IZB’s participation in implementing the Sustainable Agriculture Financing Facility (SAFF) as another initiative to support Government.
He said IZB had so far processed and disbursed funds to over 1, 000 beneficiaries across the country since the financing window opened recently.
s in the coming months,” he said.
At the same function, Finance and National Planning Minister, Situmbeko Musokotwane, recognised IZB as a significant player which has grown steadily over the years.
And IZB Board Chairman, Michael Gondwe, said the opening of the branch coincided with the commencement of the IZB’s 40th anniversary celebrations.
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