Zambia Backs New Global Borrowers’ Platform at Washington Summit
Finance Ministers and Central Bank Governors from borrowing developing countries have convened in Washington, DC, to officially launch the Borrowers’ Platform, a landmark initiative supported by the United Nations in line with the Sevilla Commitment.
The high-level event, chaired by Egypt’s Finance Minister, brought together global leaders, including the Secretary-General of the United Nations and the Prime Ministers of Barbados and St Vincent and the Grenadines, alongside Finance Ministers from across regions.
Speaking during the launch, Zambia’s Minister of Finance and National Planning, Situmbeko Musokotwane, reaffirmed Zambia’s full support for the initiative.
He noted that the platform offers an opportunity for countries to learn from one another’s experiences in navigating complex financial landscapes.
Dr Musokotwane emphasised that Zambia stands ready to share its own experiences, underscoring the importance of collaboration among borrowing nations in addressing shared economic challenges.
The Borrowers’ Platform aims to bring together developing countries to exchange knowledge and expertise, addressing gaps within the current international financial architecture. It is expected to equip member states with stronger tools, improved access to information, and a more coordinated voice in managing their financial futures.
Zambia played an active role in shaping the initiative, having been part of a Working Group established during the 2025 World Bank Group and International Monetary Fund Annual Meetings. The group, chaired by Egypt with Pakistan serving as vice-chair, also included Colombia, Honduras, the Maldives and Nepal.
The Working Group developed draft modalities and a roadmap for the platform’s rollout, which will be reviewed by the broader membership and are expected to be adopted at the 2026 Annual Meetings. Planned activities include peer learning engagements aimed at strengthening cooperation and capacity among member countries.
The Borrowers’ Platform is expected to enhance the collective voice of borrowing nations within the global debt architecture, marking a significant step towards more inclusive and balanced international financial governance.
The statement was issued by Namatama Njekwa, First Secretary for Press and Public Relations at Zambia’s Permanent Mission to the United Nations.
