Zambia on Monday denied reports that Finland had reduced financial aid to the southern African nation due to corruption allegations, the foreign affairs ministry said.

Since Zambia has developed into a lower middle income country, several partners, including Finland, have been gradually reducing their aid and increasing cooperation on trade and investment, which will contribute to the country's growth, the ministry said in a press release.

Zambia, it said, values the development cooperation with Finland, which focuses on the promotion of democracy and growth of the private sector.