Business / Economy
Zimbabwe approaches AfDB for funding
20 Sep 2013 at 12:51hrs | Views
GOVERNMENT has approached the African Development Bank with appeals for increased financial support and technical assistance on securitisation of natural resources and crafting of bankable agricultural projects.
Finance Minister Patrick Chinamasa told a press conference in the company of AfDB officials in Harare yesterday that the latest engagement was meant to explore ways to increase cooperation between the two parties. The development marks the minister's first major efforts in engaging multilateral institutions for resources to jerk the slowdown in economic growth.
Minister Chinamasa made the remarks after meeting with AfDB regional director Mr Ebrima Faal who also expressed the bank's commitment to help Zimbabwe.
"I invited Mr Faal who is the regional director of the African Development Bank to come and have a chat with me so that we could explore ways of increased cooperation between Zimbabwe and the African Development Bank" he said.
"We discussed quite some diverse issues touching on the areas where we would want to see the AfDB assisting Zimbabwe," Minister Chinamasa said.
The issues include an appeal for AfDB to scale up its multi-donor financial support through the Zim-Fund chaired by AfDB having been established by a group of donors to support priority recovery activities of the Government.
Zimbabwe has in the past benefitted significantly from funds mobilized under the ZimFund and used in rehabilitation of water systems and other infrastructure.
Finance Minister Patrick Chinamasa told a press conference in the company of AfDB officials in Harare yesterday that the latest engagement was meant to explore ways to increase cooperation between the two parties. The development marks the minister's first major efforts in engaging multilateral institutions for resources to jerk the slowdown in economic growth.
Minister Chinamasa made the remarks after meeting with AfDB regional director Mr Ebrima Faal who also expressed the bank's commitment to help Zimbabwe.
"I invited Mr Faal who is the regional director of the African Development Bank to come and have a chat with me so that we could explore ways of increased cooperation between Zimbabwe and the African Development Bank" he said.
"We discussed quite some diverse issues touching on the areas where we would want to see the AfDB assisting Zimbabwe," Minister Chinamasa said.
The issues include an appeal for AfDB to scale up its multi-donor financial support through the Zim-Fund chaired by AfDB having been established by a group of donors to support priority recovery activities of the Government.
Zimbabwe has in the past benefitted significantly from funds mobilized under the ZimFund and used in rehabilitation of water systems and other infrastructure.
Source - herald
