Localisation of Green Climate Fund resources will help stabilize Kwacha – Govt

MINISTRY of National Development Planning permanent secretary Chola Chabala says keeping resources from the Green Climate Fund (GCF) locally will have a positive impact on the exchange rate. And Development Bank of Zambia (DBZ) managing director Dr Samuel Bwalya says the institution’s accreditation to the GCF will improve the country’s access to funding for climate smart projects in the country. The GCF is a fund established within the framework of the United Nations as an operating entity of the financial mechanism to assist developing countries in adaptation and mitigation practices to counter climate change. Speaking to journalists after the announcement of the DBZ accreditation, Friday, Chabala said previously, the resources were being accessed through international institutions but with the development,…...