The construction industry has called for increased funding of the Infrastructure Development Bank of Zimbabwe (IDBZ) by treasury to ensure that the institution plays its role of funding infrastructure projects.
With a few days left before Finance Minister Tendai Biti presents the eagerly awaited 2012 National Budget, the construction industry which is on a recovery path is calling for a fiscal statement which stimulates growth and ensures increased activities in the sector.
Construction Industry Federation of Zimbabwe (CIFoZ) Chief Executive Officer, Mrs. Annie Rukweza implored the Finance Minister to consider capacitating the IDBZ to ensure that it executes its mandate of spearheading infrastructure development in the country.
CIFoZ past president, Mr. Daniel Garwe stressed the need for an expansionary budget and increased investments in key capital projects so as to generate employment for the countryâ€™s citizens and business for players in the construction sector.
While a vibrant construction sector is one key indicator of economic performance, the country is still grappling to come up with huge capital projects in the industry due to liquidity constraints.
The Infrastructure Development Bank of Zimbabwe is expected to play a critical role in the resurgence of the sector.
However, since its formation in 2005, the bank has operated with insufficient capitalisation to enable it to underwrite major projects.