The Zimbabwe National Road Administration (ZINARA) is engaging treasury for borrowing powers to secure US$50 million from the domestic market towards the rehabilitation of the damaged road infrastructure due to Cyclone Dineo.
A total of US$88 million is required for infrastructure rehabilitation and ZINARA aims to borrow at least US$50 million from local banks.
The Minister of Transport and Infrastructural Development, Dr Joram Gumbo said in addition to the US$50 million to be mobilised by ZINARA, treasury is expected to avail US$30 million towards the reconstruction of the damaged infrastructure.
Meanwhile, the government’s cooperating partner, Japan International Cooperating Agency (JICA) has also availed US$5,3 million for the rehabilitation works.
The heavy rains and the recent Cyclone Dineo have left a trail of destruction to the country’s infrastructure and left many families displaced.