AfDB, Treasury in development talks

By Stanley James, Business Editor

THE African Development Bank (AfDB) has pledged more support for Zimbabwe’s private sector and energy projects.

 AfDB officials including the financial institution’s two vice presidents held discussions with Zimbabwe’s treasury this Friday on modalities to increase cooperation.

The bank has resolved to mobilise more funding for private sector investment.

“The bank held cordial talks with the Minister of Finance and Economic Development. We are happy that resolutions from the meeting will be fruitful in shaping more assistance to local private sector investments,”  said Mr Solomon Quaynor, AfDB Vice President for Private Sector, Infrastructure and Industrialisation.

AfDB Vice President for Energy, Climate and Green Growth Complex Energy projects will also get loans from AfDB.

Remember there are several projects that we are really focusing on to such an extent that the initiative to increase funding to energy projects will also tally with key development projects across the country,” he noted.

Treasury has described the AfDB as a key partner in Zimbabwe’s economic turnaround efforts and development agenda in line with vision 2030.

They continue to do their best regarding how they can transform this economy, in fact this is really a welcome development as we continue to forge with our development agenda,”  said Finance and Economic Development Minister, Professor Mthuli Ncube.

 The AfDB  has also resolved to help Zimbabwe in clearing outstanding external debts.