idbz logo 06-09-10.jpgThe Infrastructure Development Bank of Zimbabwe (IDBZ) has over two years disbursed US$250 million towards the rehabilitation and construction of the country’s infrastructure.

The disbursed amount has improved the country’s communication system with a huge chunk going towards road rehabilitation and information communication system which will play a critical role towards achieving the 9,3% projected economic growth this year.

In an interview in Harare, IDBZ Chief Executive Officer, Mr Charles Chikaura said the financial institution has embarked on various projects since last year.

“Some of the projects have been completed while others are at different stages of completion,” said Mr Chikaura.

Of the US$250 million, US$70 million has been disbursed under the private sector projects division to fund working capital for large corporate and small to medium enterprises while US$20 million was allocated for power projects.

Transmedia was allocated US$1,6 million towards rehabilitation of broadcasting transmission network.

US$6,2 million was channelled towards the laying of the fibre optic cable for the Harare-Mutare project, with transport getting US$39,8 million while US$5 million was allocated to the rehabilitation of railway infrastructure, among others.