The African Development Bank- AfDB says it stands ready to support private sector driven initiatives that would result in industrializing the agriculture sector in Zambia.
AfDB Country Manager Mary Monyau says AfDB remains a key partner of the Zambian Government particularly in the diversification of the economy from copper dependency to agriculture.
Ms Monyau says the idea by PRASAD Seeds Company of India that wants to set up a multi-million-dollar seed processing facility in Zambia falls in the AfDB’s Feed Africa Strategy.
She says AfDB is happy that the company is engaging the institution in discussions regarding a possible synergy with the out-grower scheme which is already financed by AfDB .
The AfDB Country Manager said this in Lusaka when Zambia’s High Commissioner to India Judith Kapijimpanga presented Prasad Seeds Company of India that wants to set up a multi-million-dollar seed processing facility in Zambia.
And PRASAD Seeds General Manager for Africa Sreekumar Nair says his company which provides 70 percent of India’s seed requirements is happy that AfDB can open up for discussions on possible financing agreement towards setting up seed processing factories in
He said PRASAD stands ready to work with ADB in it’s outgrower scheme which resonates with his company’s agenda.
And Mrs. Kapijimpanga said the mission in India is happy with Prasad seed company’s determination to set up in Zambia.