Business / Companies
AfDB to set up base in Zimbabwe
27 Feb 2014 at 15:40hrs | Views
The African Development Bank (AfDB) is set to strengthen its foothold in Zimbabwe by constructing its offices in the country.
The regional financier's Zimbabwe Field Office, which is currently housed at the Joina City building in Harare, yesterday advertised a request for expressions of interest (EOI) for "civil construction companies on category 'C' and below".
"The African Development Bank is desirous to have a database of civil construction companies which are from category 'C' and below to work with the Bank in the future," said the bank.
The move to construct offices in the country reflects the bank's plans for a long-term working relationship with Zimbabwe. The AfDB reopened its Zimbabwe office after a 10-year absence in 2011, citing an improved political climate.
The key reason for the opening of the offices was for the bank to manage a multi-donor trust fund - the ZimFund.
The Zim-Fund was established in May 2010, following approval by the boards of directors of the AfDB. of the recommendations contained in a document entitled "Establishment of a Multi-Donor Trust Fund for Zimbabwe."
The purpose of the Zim-Fund is to contribute to early recovery and development efforts in Zimbabwe by mobilising donor resources and promoting donor coordination in the country.
The thematic scope of the Zim-Fund has initially focused on infrastructure investments in water and sanitation, and energy.
The regional financier's Zimbabwe Field Office, which is currently housed at the Joina City building in Harare, yesterday advertised a request for expressions of interest (EOI) for "civil construction companies on category 'C' and below".
"The African Development Bank is desirous to have a database of civil construction companies which are from category 'C' and below to work with the Bank in the future," said the bank.
The move to construct offices in the country reflects the bank's plans for a long-term working relationship with Zimbabwe. The AfDB reopened its Zimbabwe office after a 10-year absence in 2011, citing an improved political climate.
The key reason for the opening of the offices was for the bank to manage a multi-donor trust fund - the ZimFund.
The Zim-Fund was established in May 2010, following approval by the boards of directors of the AfDB. of the recommendations contained in a document entitled "Establishment of a Multi-Donor Trust Fund for Zimbabwe."
The purpose of the Zim-Fund is to contribute to early recovery and development efforts in Zimbabwe by mobilising donor resources and promoting donor coordination in the country.
The thematic scope of the Zim-Fund has initially focused on infrastructure investments in water and sanitation, and energy.
Source - bh24
