Zambia Calls for Innovative Financing to Boost Least Developed Countries
Zambia’s Minister of Foreign Affairs and International Cooperation, Hon. Mulambo Haimbe, SC, MP, has made a clarion call for innovative financing mechanisms and strategic partnerships to support Least Developed Countries (LDCs), urging global cooperation to close gaps in infrastructure, digital access, green investment, and sustainable development.
Speaking during a High-Level Meeting on LDCs at the Fourth International Conference on Financing for Development (FFD4) in Seville, Spain, Hon. Haimbe emphasized that traditional aid alone is insufficient to meet current development needs.
He stressed the importance of mobilizing private capital at scale, lowering capital costs, and building resilient economies through targeted investment.
“The Sevilla Commitment provides a strong framework to complement the Doha Programme of Action,” Hon. Haimbe noted. “Zambia is committed to forging mutually beneficial partnerships that drive sustainable development, economic resilience, and innovation.”
Hon. Haimbe cited Zambia’s own progress in expanding free education, enhancing healthcare access, promoting renewable energy, and issuing the country’s first green bond as key examples of development gains driven by innovative policies.
Zambia’s 90% 4G network coverage is also facilitating e-governance and digital inclusion, though the Minister highlighted the need for more investment in digital skills and infrastructure.
The Minister also participated in a multi-stakeholder roundtable focused on leveraging private business and finance. He underscored the urgent need to reshape financial ecosystems—both globally and domestically—to bridge the estimated $4 trillion annual SDG financing gap.
He called on LDCs to strengthen domestic capital markets and channel long-term savings into productive sectors such as energy, agriculture, and technology.
Hon. Haimbe’s message was echoed by several international development partners and Global South representatives, who affirmed the need for collaborative action to realize the Seville Commitments and support inclusive growth across vulnerable nations.
