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World Bank to disburse funds to Zimbabwe this month
02 Mar 2015 at 08:08hrs | Views
The World Bank will start disbursing the Zimbabwe Reconstruction Fund at end of this month although the Bretton Wood institution is still in the process of mobilising resources for the initiative.
The World Bank said it was in the process of allocating funds received from Norway, Denmark and the international financial institution's own State and Peace Building Fund together with funds that other development partners have pledged for 2015.
The World Bank said the allocation was across projects and would be in line with and informed by the economic blueprint Zimbabwe Agenda for Sustainable Socio Economic Transformation (Zim Asset) objectives and the bank's Interim Strategy Note for Zimbabwe.
The international bank said it would notify stakeholders when the programmes are approved by the Policy Oversight Committee comprising government, World Bank and development partners.
The fund is expected to reach $100 million this year. As of last year, the figure stood at $40 million.
Source - The Standard
