THE European Union (EU) has refuted reports by some online media that it has significantly reduced funding to Zambia due to poor financial and monetary policies. EU ambassador to Zambia Gilles Hervio told the Zambia Daily Mail in an interview yesterday that it is not true that the EU has cut aid to Zambia. “Reports that the EU has cut aid to Zambia are totally wrong,” Mr Hervio said. He said the EU has only changed the modality of support to Zambia. “It is absolutely wrong for anyone to claim that the EU has stopped supporting Zambia. What is true is that we will now concentrate on projects as opposed to budget support,” Mr Hervio said. He said the EU gives Zambia around €100 million yearly in support and that it will continue doing so. Some online publications have suggested that the EU has cut aid to Zambia. According to some online media, EU said Zambia has scored very lowly in financial and fiscal policy of only 35 percent, making it difficult for them to continue supporting the country. Zambia Daily Mail
Posted on: Mon, 23 Jun 2014 11:18:24 +0000