Renewable energy scheme for Zimbabwe approved

by DANAI MWARUMBWA
HARARE, (CAJ News) – ZIMBABWE has received a major financial boost in the attainment of the Sustainable Development Goals (SDGs) after the United Nations SDG-Fund approved the country’s US$45 million programme.

The funds will catalyse investments in renewable energy (RE).

The UN SDG-Fund is contributing $10 million to the programme while the government through the Infrastructure Development Bank of Zimbabwe and local partners are supporting the programme with a total of $35 million.

The four-year programme, which is expected to kick-off in April 2022, was jointly developed by UN Educational Scientific and Cultural Organisation (UNESCO), UN Women, United Nations Development Programme (UNDP) and the government of Zimbabwe.

This programme will innovatively target SDGs 5, 7, 8, 9, 13 and 17, while harnessing the cross-cutting nature of these goals to achieve the rest of the SDGs.

The programme will also contribute towards the attainment of a number of key national priorities of the government as spelt out in the National Development Strategy (NDS 1) and the UN Sustainable Development Cooperation Framework (UNSDCF 2022-2026).

This by working towards national goals on economic development, energy access, climate action, women and youth empowerment, and capacity development in RE for productive uses.

The main intervention of the programme, centres on the establishment of an innovative inclusive and gender responsive Renewable Energy Fund (REF).

It aims to leverage private sector and financial markets to finance RE projects that have a return on investment while achieving social impact for the acceleration of SDG achievement in Zimbabwe.

– CAJ News