By Cindy Mulomba

Government has launched a 49.9 million United States dollar project aimed at expanding access to financial services for rural communities.

The seven-year Financial Inclusion for Resilience and Innovation Project - FIRIP - is being implemented by the Ministry of Finance and National Planning with support from the International Fund for Agricultural Development - IFAD.

Permanent Secretary for Economic Management and Finance Mulele Mulele says the initiative is expected to benefit more than 300,000 producers, reaching about 1.8 million people in rural households through improved access to financial services.

Mr. Mulele, who was represented by Economic Finance Director Akapelwa Imwiko said this during the Financial Inclusion Stakeholders' meeting.

Meanwhile, IFAD Country Programme Coordinator Brian Kapotwe said Zambia has continued to make progress in financial inclusion, with the national financial inclusion rate rising to 80.4 percent.

And, FIRIP Project Coordinator Derrick Simukoko said the project is financed through contributions from Government, IFAD, development partners, the private sector and beneficiaries.

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