African Development Bank Group President Dr Akinwumi Adesina has completed a two-day official visit to Zambia where he met with President Hakainde Hichilema to discuss further support for the country as it emerges from a successful $6.3 billion debt restructuring for bilateral debtors, under the G20 Common Framework on debt treatment.

President Hichilema noted that while his government had made a significant achievement on official creditor debt, more work needs to be done to tackle debt owed to local and external commercial creditors including Eurobond holders. “We have lost a lot of time under the ‘python of debt’. We want to now unlock growth and prosperity for our people,” said President Hichilema.

Adesina congratulated the government of Zambia for reaching an agreement with its bilateral creditors under the G20 Common Framework on debt treatment. The agreement puts Zambia back on the path for economic recovery and sustainable debt management.

“You have created a sense of hope in the country and confidence in the economy, paving the way for investments to return and accelerate the drive to achieve prosperity for the country,” Adesina told President Hichilema during the meeting on Tuesday at State House in the capital Lusaka.

The Bank chief also met with private sector leaders, including the chief executive officers of the financial industry in Zambia, and called on them to take advantage of these opportunities to invest more in the country.

President Hichilema thanked Adesina for his “tremendous work for the African Development Bank and Africa.” Your leadership has raised the bar in terms of the Bank’s status and performance,” he said.

Adesina was accompanied by the Vice President for Regional Development, Integration and Business Delivery, Marie-Laure Akin Olugbade, the Vice President for Agriculture, Human and Social Development Dr Beth Dunford, the Director General for Southern Africa Leila Mokaddem, Director of Agriculture and Agro-Industry Martin Fregene, Director of Water and Sanitation Osward Chanda, and the Bank’s Country Manager for Zambia, Raubil Olaniyi Durowoju.

On his part, President Hichilema was accompanied by Minister for Science and Technology and acting Finance Minister Felix Mutati as well as Central Bank Governor Denny Kalyalya.

Adesina praised President Hichilema for his “drive, passion and resolute approach to debt resolution and restructuring for the country,” and added, “Zambia is back. Zambia is bankable; and you, Mr President, you are bankable. You can count on the African Development Bank’s support all the way.”