PRESIDENT Lungu has called for strengthened internal country financial systems in the implementation of the Forum on China-Africa Co-operation (FOCAC) to mitigate the impact of volatilities in the global economy.
Speaking during round-table discussions at FOCAC, President Lungu said there is need to significantly assist emerging and fragile economies to cushion against the adverse effects of declining global commodity prices.
“I will affirm Zambia’s continued support and commitment to the FOCAC framework for the prosperity and mutual benefit of our countries and peoples,” he said.
President Lungu said Zambia is among many countries in Africa that are facing critical energy shortages arising from the effects of climate change and increase in domestic and industrial consumption of power.
He said there is urgent need to harness Chinese investment in power generation and transmission projects as the demand continues to outstrip supply.
President Lungu said Zambia has huge potential both in hydro-power and alternative sources of energy such as bio-gas, thermal and geo-thermal which can be developed for the benefit of the region. By KAPALA CHISUNKA – 06/12/15