$35 million for infrastructure development

$35 million for infrastructure development
Published: 17 March 2014
The government and the African Development Bank (AfDB) will this week unveil a $35 million grant towards the development of infrastructure projects.

The plan is being made after a Protocol of Agreement concluded by the Republic of Zimbabwe and the ADB in its capacity as the administrator of the Zimbabwe Multi-Donor Trust Fund (ZIMFUND) towards the injection of $35 million for the renovation of several projects.

ZIMFUNDS Projects Manager, Mr Emmanuel Nzabanita confirmed that the grant, which will be unveiled this Wednesday, seeks to ensure that Zimbabwe restores its image as a viable and safe investment destination.

"Indeed we hope that this will go a long way in restoring confidence in the economy of Zimbabwe," he said.

Mr Nzabanita said despite the challenges affecting the economy, the ADB, through its fund, is committed to work with the government by introducing policies aimed at increasing business confidence.

The ADB has also pledged to mobilise at least $120 million towards the development of the economy and ensuring that key productive sectors operate at full capacity.
- zbc
Tags: AfDB,


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