The World Bank’s administered Zimbabwe Reconstruction Fund (ZIMREF) has received an additional US$4,2 million from the United Kingdom’s developmental agency, the Department for International Development (DfID) to strengthen the country’s economic policy systems.
After the signing of the facility between the government and the DfID this Wednesday, World Bank Country Manager, Ms Mukami Kariuki said additional funding is critical in sustaining projects within the country.
“Such a facility is a true testimony of what is being made for the sake of growth within this country,” she said.
DfID Head in Zimbabwe, Ms Annabel Gerry said the UK’s support will enable the World Bank to increase technical advice to the government.
“It is all about the issue of technical advice that matters as we gear for increased cooperation in the future,” Ms Gerry said.
The government appreciated the support it is receiving from all other developmental partners.
“We are grateful to the support that we are receiving, indeed it is really critical,” the Permanent Secretary in the Ministry of Finance, Mr Willard Manungo said.
ZIMREF, whose funding portfolio has increased to US$30 million since 2015, is a World Bank administered multi-donor trust whose mandate is to revive key projects across the country and also help government with economic advice, budgetary reforms, climate change systems and education sector policies.