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AfDB explores technical assistance to Zimbabwe

AfDB explores technical assistance to Zimbabwe

by MARCUS MUSHONGA
HARARE, (CAJ News) – THE African Development Bank (AfDB) and the Zimbabwe government are discussing measures towards settling the debt the Southern African country owes international financial institutions and bilateral creditors.

Akinwumi Adesina, AfDB Group President, was in Zimbabwe from Monday.

He accepted a request in February by the Zimbabwean government to serve as the country’s arrears clearance and debt resolution champion

Adesina was to meet President Emmerson Mnangagwa and other government officials, including Finance and Economic Development Minister Mthuli Ncube.

“Discussions will focus on potential areas of technical assistance that the African Development Bank will provide to the Zimbabwean government” AfDB stated.

Adesina will meet several African and G7 ambassadors and representatives of international financial institutions accredited to Zimbabwe.

Zimbabwe is the only regional member country of the AfDB currently under sanctions from the bank and other multilateral financial institutions because of debt arrears amounting to over US$2,6 billion.

AfDB has run the $145,8 million Zimbabwe Multi-Donor Trust Fund (ZimFund) from 2010 through June this year.

ZimFund has been an important source of financial support for the country’s energy, water and sanitation infrastructure.

ZimFund financiers are Australia, Denmark, Germany, Norway, Sweden, Switzerland and the United Kingdom (UK).

– CAJ News

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