UNDP, Standard Chartered Join Forces to Power Green and Inclusive Growth in Zambia
By Daily News Reporter
The United Nations Development Programme and Standard Chartered Bank have signed a renewed Memorandum of Understanding (MoU) aimed at accelerating sustainable development and expanding opportunities for young people in Zambia.
The agreement marks a deepening of collaboration between the public and private sectors, with a strong focus on inclusive green economic growth, youth empowerment, and climate resilience.
Under the renewed partnership, the two institutions will work together to support micro, small and medium enterprises (MSMEs), enhance access to renewable energy solutions, and promote innovative financing models aligned with the Sustainable Development Goals.
Stakeholders say the initiative is designed to respond to Zambia’s evolving development needs by combining UNDP’s development expertise with Standard Chartered’s financial capabilities.
Speaking during signing ceremony Standard Chartered Bank (CEO) Chief Executive Officer Mr Sonny Zulu noted that the MoU is its focus on youth. The partnership seeks to equip young people with critical skills in entrepreneurship, financial literacy, and employability, while also supporting youth-led businesses to thrive in a competitive economic environment.
“This partnership places young people at the centre of Zambia’s development agenda, ensuring they are not just beneficiaries, but active contributors to economic growth,” Mr Zulu noted.
The collaboration will also prioritize inclusion, targeting women and persons with disabilities through tailored programs aimed at expanding economic participation and reducing inequalities.
In addition, the agreement outlines efforts to strengthen climate action by supporting renewable energy initiatives and building resilience in vulnerable communities, particularly in rural areas.
The renewed MoU comes as Standard Chartered Bank Zambia celebrates more than a century of operations in the country, reaffirming its commitment to sustainable finance and long-term national development.
And UNDP Resident Representative Dr. James Wakiaga also added that the partnership could play a pivotal role in unlocking new investment opportunities, fostering innovation, and advancing Zambia’s transition toward a more sustainable and inclusive economy.
Dr Wakiaga further said that the collaboration reflects UNDP's continued efforts to leverage private sector expertise and financial innovation in support of Zambia's development aspirations.
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