The United Kingdom (UK) said it will partner with Zambia for new clean energy projects which will see green investments of up to 2.5 billion British pounds (about 3.18 billion U.S. dollars) from the private sector, said a statement from the British Embassy in Zambia released Thursday.
The partnership will also see another investment of 500 million British pounds backed by the UK government, said the statement released on the visit of UK Foreign Secretary James Cleverly.
Cleverly's visit to Zambia concludes a three-county tour where he boosted the UK's future-focused, mutually-beneficial partnerships with Nigeria and Ghana and reaffirmed the UK's commitment to advance trade, investment and green growth in Africa.
According to the statement, the new targets will be delivered through the UK-Zambia green growth compact which aims to drive investment in Zambia's green economy, strengthening growing economic partnerships between the two countries and tackling climate change.
"Working together with our partners in Zambia, the UK is driving the clean energy transaction. The UK-Zambia green growth compact and our landmark agreement on critical minerals will support investment between the UK and Zambian business, creating jobs in both countries, and improving environmental and social standards," Cleverly said in the statement.
The statement added that the UK official will also sign a memorandum of understanding on critical minerals which will lay the foundation for further UK support for the responsible mining of minerals essential to the global clean energy transition.
Editor: Galia
