CENTRAL Province has signed a Memorandum of Understanding (MoU) with Lloyds Financials to collaborate in the implementation of high impact projects for the greater benefits of the people in the province.
Under the MoU signed on Friday, the two parties have agreed to identify projects in various sectors with higher benefits in the province for possible financing by Lloyds Financials.
Central Province Minister Sydney Mushanga signed on behalf of the province while Lloyds Financials chief executive officer Lloyd Chingambo signed for the Lusaka based private company.
Mr Mushanga said the province was proud to associate with Lloyds Financials because it was an opportunity to have multiple sources of finances at a time that the resources were scarce.
“In other words, this partnership is aimed at identifying key projects with high impact on our communities in central province for possible financing by Lloyds Financials Limited,” Mr Mushanga said.
“I am proud to announce that as a province, we have already identified more than 15 projects for possible financing by Lloyds Financials.”
He expressed confident that the collaboration would help in accelerating development, adding the provincial administration was currently collecting details including costing of the identified projects.
Meanwhile, Prof Chingambo said his company was honored to partner with Central Province in achieving development through implementation of the identified projects.
“We are coming here as a team and partners to mobilize finances for development projects in the province; we have reliable partners who are able to deliver development,” Prof Chingambo said.
He noted that the cooperation through the MoU was crucial in ensuring that the development objectives of the province were met.
Earlier, Central Province Permanent Secretary Bernard Chomba said the government on its own could not manage to implement development projects hence the decision to partner Lloyds Financials.