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World Bank officials expected in Zimbabwe

by Staff Reporter
02 Jun 2016 at 22:38hrs | Views
A delegation of the World Bank private sector lending arm will arrive in Zimbabwe next week for a series of meetings with government, business leaders and bankers, as the country seeks long-term funding for undercapitalised firms.

Official sources say directors from the International Finance Corporation (IFC) will first hold discussions with treasury and monetary authorities in the capital before meeting business leaders and bankers to explore funding opportunities.

Harare Chamber of Small to Medium Enterprises secretary general Mr Donald Gwisai says while the business community is ready to meet the World Bank directors, restoration of financial aid is critical in increasing business confidence.

"We are ready to meet them provided they come up with a facility to sustain our operations financially," said Mr Gwisai.

Industrialist Mr Justice Moyo says despite the huge debt overhang owed by Zimbabwe to the World Bank, the visit by the multilateral financier is a reflection of its renewed interests to re-engage the government.

"We hope more can be done to unlock the current systems for the betterment of the country or nation in the long term," Mr Moyo said.

The World Bank lending to Zimbabwe is currently frozen due to arrears and the bank's role has only been limited to technical assistance.

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Source - zbc