By MAIMBOLWA MULIKELELA –

THE Industrial Development Corporation (IDC) is set to mobilise resources from financial institutions to accelerate infrastructure development at Nansanga Farm Bloc.
IDC in partnership with development financial institutions and the private sector co-investor is expected to invest about US$50 million for infrastructure development and agricultural activities at the farm bloc.
To date, about $30 million has gone into the development of basic infrastructure such as feeder roads, electricity supply around the farm bloc and for the construction of three dams.
IDC executive director for operations Paul Siame said his institution would soon raise money from the development financial institutions for infrastructure development in the Nansanga Farm Bloc.
Mr Siame said the development of the farm bloc was in line with the Government’s Diversification and Industrialisation Strategy.
He said to implement President Edgar Lungu’s directive, IDC would be establishing an office at the Nansanga Farm Bloc.
Mr Siame said from the total 100,000 hectares of land, 80,000 hectares had been allocated to the small and medium-scale farmers.
He said about 10,000 hectares had been reserved for a co-venture investor whom the IDC would partner with and was available for investment in agricultural activities.
“The small and medium-scale farmers have not been active because they have all been waiting for a co-venture to be operational. We have started negotiations or collaborating with potential investors who we have been in discussion with and the development financial institutions,” Mr Siame said.
He said now that they had seen what was on the ground, IDC would be able to strategise on how to mobilise finances to implement the required infrastructure development.
Mr Siame was in Serenje District for physical assessment on the current status of the Nasanga Farm Bloc.
He said the delay to implement infrastructure development was because previously the Government had been waiting for investors to invest in the farm bloc, saying that the strategy now would be to develop the basic infrastructure such as roads, completion of power supply, construction of two additional dams, bridges and telecommunication.
This will facilitate for investment in the Nansanga Farm Bloc which would immediately start the process of mobilising necessary funds to put in place relevant infrastructure.
“From our perspective we will move in almost immediately to start mobilising the funds and put in place the relevant infrastructure while in parallel, we will be continuing with negotiations with some of the potential investors we have identified,” Mr Siame said.
He said it was important to note that previously infrastructure development in the farm bloc would have been funded through the Budget, but this would no longer be the case.
Mr Siame said IDC would have to go on the market to mobilise resources to invest in the farm bloc, and that the private sector would have to take the lead for them to contribute the overall economic development.
“The immediate benefit which is in line with Government’s programme is to diversify the economy. We will have large commercial agricultural activities within the central region and more jobs will be created, more crops grown for export as well as value-additional activities within the farm bloc by the co-venture investor who would be in place,” Mr Siame said.
Last year, President Lungu during his address to Parliament directed IDC to accelerate the implementation of the farm blocs.
President Lungu is the chairperson for IDC and is actively involved to ensure that the farm blocs are fully operational.