President Edgar Lungu has warned against misuse of public funds and those from cooperating partners.
The President says this is why the government has passed a new Public Finance Management Act that has introduced stiff, decisive administrative and legal actions against misuse of public funds.
He says the act has allready moved into action with some perpetrators of being dismissed and legal action taken against them.
The Head of State was speaking in Livingstone this morning when he officially opened the World Banks IDA 18th High Level Mid-Term Review Meeting.
President Lungu thanked the World Bank Group for financing 250 projects in Zambia through concessional International Development Association IDA credits and grants worth over 4.6 billion United States Dollars over the years.
He cited some of the transformational projects as the Kariba Dam, agriculture, tourism, water, transport, health and education sectors.
And IDA Chief Executive Officer Kristina Georgiva said the Association is important to the world because it uplifts over 100 million people out of poverty.
Meanwhile, speaking in a recorded message, World Bank President Jim Yong Kim thanked the Zambian government for hosting the IDA 18th High Level Mid Term Review Meeting the first in sub Saharan Africa.