📰 𝗜𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 𝗕𝗮𝗻𝗸 𝗼𝗳 𝗭𝗶𝗺𝗯𝗮𝗯𝘄𝗲 𝗲𝘅𝗽𝗮𝗻𝗱𝘀 𝗵𝗼𝘂𝘀𝗶𝗻𝗴 𝗽𝗿𝗼𝗷𝗲𝗰𝘁𝘀 𝗶𝗻 𝗠𝗮𝘀𝘃𝗶𝗻𝗴𝗼 https://whatsapp.com/channel/0029VaDbHKp3GJOtlMM4PA39 https://wa.me/263718497005?text=advert MASVINGO – In line with the Second Republic’s focus on addressing the national housing backlog, the Infrastructure and Development Bank of Zimbabwe (IDBZ) has commenced development of 1,300 new residential stands in Masvingo through various partnerships. This expansion follows the successful implementation of the Clipsham Views Housing Project, which saw nearly 1,000 stands fully developed and serviced under Phase One. Now, the bank is moving forward with Phase Two of the project, which spans a 100-hectare piece of land. During a site visit by the IDBZ board and executive management on Tuesday, Dr Reggie Dangarembga, the bank’s Director for Infrastructure Projects, revealed that Phase Two is expected to be completed within a year. He reiterated that this initiative is part of the bank’s broader commitment to easing the housing crisis across Zimbabwe. “We are now moving into Clipsham Phase Two, which sits on approximately 100 hectares. Our expectation is that within a year or so, the project will be completed. This is part of our broader effort to reduce the housing backlog nationwide,” Dr Dangarembga stated. He also disclosed that similar IDBZ-led housing developments are underway in Harare, Bulawayo, Kadoma, Plumtree, and Kwekwe. In addition to housing, the bank is collaborating with several tertiary institutions to develop modern student accommodation facilities. Dr Kuphukile Mlambo, the IDBZ Board Chairperson, emphasized the bank’s core mandate—financing both infrastructure and development projects—as being essential to the realisation of Zimbabwe’s Vision 2030 and the National Development Strategy 1 (NDS1). “We are touring our projects to evaluate how they align with Zimbabwe’s development aspirations, especially the goal of attaining middle-income status by 2030. IDBZ is built on two core legs, infrastructure and development, and we are ensuring both are functioning effectively in pursuit of that vision,” said Dr Mlambo. Beyond housing, IDBZ is undertaking several strategic projects in Masvingo Province, including a five-megawatt solar power project in Gutu, a paprika production initiative in Mwenezi in partnership with private investors, and the Muuyu Truck Stop infrastructure project aimed at improving transport and logistics efficiency. The Zimbabwean government has set a target of constructing one million housing units by the end of 2025. Institutions like IDBZ are playing a pivotal role in achieving this ambitious goal by unlocking financing for large-scale residential and infrastructure projects across the country. -ZBC News