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Calls for FDI in Zimbabwe as Economy Stutters

  • Blessing  Zulu

The African Development Bank manages the Zim-Fund with the endorsement of the government, the donor community and United Nations agencies.

The African Development Bank manages the Zim-Fund with the endorsement of the government, the donor community and United Nations agencies.

A senior economist is urging the West to assist Zimbabwe with foreign direct investment to rescue the southern African nation from sliding further into recession.

This comes after Denmark announced it has donated $20 million to Zimbabwe through the African Development Bank-run, Zimbabwe Multi-Donor Trust Fund.

Danish Ambassador to Harare, Erik Rasmussen said the money will be channeled towards rehabilitation of structures such as roads, water, and electricity.

A number of donors, in a bid to support priority recovery activities in Zimbabwe, created the Zimbabwe Multi-Donor Trust Fund (the Zim-Fund), as a successor to the Zimbabwe Programmatic Multi-Donor Trust Fund (Zim-MDTF) during the unity government era.

The African Development Bank manages the Zim-Fund with the endorsement of the government, the donor community and United Nations agencies.

Resource Exploitation Watch chief economist, Washington Mehlomakulu, said the donation is significant though more still needs to be done to normalize ties.
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