LUSAKA, April 17 (Xinhua) -- The World Bank has approved the extension of 225,000 U.S. dollar-technical assistance to Zambia to help the southern African nation continue implementing a program aimed at evaluating its ecosystem, a government official has said.
The extension of the technical assistance was in support for the implementation of the Wealth Accounting and the Valuation of Ecosystem Services (WAVES) program aimed at promoting and maintaining natural capital in development planning and economic accounting system.
Ministry of National Development Planning Permanent Secretary Chola Chabala, who is in charge of development planning and administration, said Friday the program was meant to realize the deeper appreciation of the interactions between natural assets and economic activities.
Speaking during a meeting with World Bank Senior Environmental Specialists Nathalie Weir Johnson and Environmental Economist Ngao Mubanga, the Zambian government official said the country was endowed with diverse natural resources upon which the economy was dependent, according to a statement released after the meeting.
According to him, it was imperative that data generated from natural capital accounting enhances policy decision-making on allocation and use of natural resources.
The government plans to integrate the results from national capital accounts in sector strategy documents and development plans for sustainable development, he said.
The WAVES program has so far completed compiling reports in three priority areas, namely forestry, lands and water, he added.
While vowing the World Bank's commitment in supporting the country and extending its technical support, Mubanga noted that a monitoring and evaluation aspect will be added to the program. Enditem
