Zimbabwe strikes World Bank deal

Zimbabwe is on the verge of breakthrough to start receiving concessionary finding support from the World Bank for the first time in nearly two decades after the Bretton Woods institution agreed to engage the country on a roadmap for arrears clearance.

This comes as it emerged that the World Bank had been refusing Zimbabwe the opportunity to clear its arrears the multi-lateral lender despite the global standing policy of not extending support to countries with outstanding dues to the institution.

Minister Chinamasa said Zimbabwe would soon host a high-powered delegation from the World Bank to conduct a needs assessment exercise for the country after President Mnangagwa yesterday vowed to clear arrears with the multilateral institution.