Hurumende News Hub
Hurumende News Hub
June 19, 2025 at 06:56 AM
*Zimbabwe Reaffirms Dedication to National Development With African Development Bank Partnership* *By Hurumende News Hub* The Zimbabwean Government has renewed its pledge to advance national development priorities in close coordination with the African Development Bank (AfDB), through participation at Harare's 2025 Country Portfolio Performance Review Workshop (CPPR). This commitment was evident at its recent conclusion. _*Follow Our News Channel:*_ https://whatsapp.com/channel/0029VaX77yH5fM5bBLKuyp1O Mrs. Margireta Makuwaza, Acting Chief Director in Zimbabwe's Ministry of Finance, Economic Development and Investment Promotion highlighted how well AfDB Country Brief (2024-2026) aligns with Zimbabwe's medium-term development framework: National Development Strategy 1 (NDS1). NDS1 seeks to diversify and adapt Zimbabwe's economy before 2025 with an eye to NDS2, which will pave the path toward upper middle income status by 2030. By prioritising governance, accountability, and private sector development, we are creating an unshakeable platform for NDS2", stated Mrs. Makuwaza while underscoring its importance as part of meeting national goals. Zimbabwean Government officials recognised that CPPR workshops serve an invaluable purpose - not merely routine evaluation - when Mrs. Makuwaza referred to it as an avenue for collaborative solution generation, sharing of best practices and creating a collective vision for impactful development. "As custodians of Zimbabwe's fiscal and development agenda, we appreciate a transparent, results-oriented approach that ensures efficient allocation of resources in line with Zimbabwe's ambitious aspirations," She said. Belinda Chesire, AfDB Country Programme Officer in Zimbabwe, gave an update on AfDB strategic priorities and detailed its US$137 million financing portfolio for Zimbabwe projects that aim to foster inclusive and resilient growth through governance reform, agriculture development, energy production and emergency response, private sector mobilisation as well as economic diversification and emergency preparedness measures. "CPPR workshop is more than an evaluation; it serves as an opportunity for us to co-create solutions together and pool knowledge," stated Chesire on behalf of AfDB Country Manager Moono Mupotola. Chesire also highlighted AfDB's significant contributions to Zimbabwean small and medium-sized enterprises (SMEs), with over US$40 million invested into credit lines and trade finance facilities for them - efforts which should facilitate job creation, entrepreneurialism and economic diversification; including supporting renewable energy projects like solar feasibility studies at Kariba Dam that aim to strengthen energy security as well as attract investments into green economies. Economist Gladys Shumbambiri-Mutsopotsi applauded Zimbabwe's private sector engagement, noting how AfDB initiatives provide affordable financing and technical assistance to small and medium enterprises (SMEs). Shumbambiri-Mutsopotsi noted the AfDB's work to expand access to finance for small and medium enterprises is transformative for Zimbabwe and that renewable energy projects, specifically solar installations, would not only boost energy security but also attract fresh investments into green economy projects. CPPR workshop results included the creation of the Country Portfolio Improvement Plan (CPIP), with goals that included strengthening project implementation, expediting disbursements, and optimising development outcomes. The final draft will then be sent for approval from both AfDB's Board Committee on Development Effectiveness (Code) as well as the Zimbabwe Government bodies. At the core of World Bank engagement with Zimbabwe is support for their Arrears Clearance and Debt Resolution initiative, including reforms in public financial management, tax administration and procurement processes. Zimbabwe continues to benefit from various AfDB-managed trust funds such as the Sustainable Energy Fund for Africa, Fund for Energy Inclusion, and Affirmative Finance Action for Women in Africa (Afawa). These initiatives support renewable energy projects across Zimbabwe while offering debt financing for solar power, as well as supporting women entrepreneurs across Zimbabwe. Successful implementation of the 2025 Comprehensive Performance and Policy Review workshop shows a shared commitment among Zimbabwe, AfDB, and development partners towards inclusive, resilient, and sustainable economic development. "Our joint efforts will transform strategic investments into tangible improvements for Zimbabweans," Mrs. Makuwaza concluded. Economist Shumbambiri-Mutsopotsi highlighted how this partnership signals a new era of opportunity where collaboration among the public and private sectors and targeted investments will pave the path for Zimbabwe's prosperous future.
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