|African Development Bank Publishes Infrastructure Action Plan for Zimbabwe|
|Emerging Markets Business News|
|Tuesday, 29 March 2011 08:05|
The African Development Bank (AfDB) Group’s effort in Zimbabwe’s economic recovery has received a major boost with the publication of a comprehensive infrastructure development action-plan for strong and sustained growth in the country. The 342-page report titled “Infrastructure and Growth in Zimbabwe - An Action Plan for Sustained Strong Growth” has been endorsed by an informal AfDB Board.In a foreword, AfDB Vice-President for Country and Regional Programs and Policy, Aloysius Ordu, explained that the Flagship Report is part of an analytical work designed to enable the Bank to strengthen its knowledge base in Zimbabwe’s infrastructure sector. The focus of the Report, he underscored, is on operations and services associated with transport, electric power, information and communication technologies (ICT) as well as water and sanitation in Zimbabwe.
The Report provides a detailed assessment of the current status and major challenges in 4 infrastructure sub-sectors and associated services. It gives an overview of major challenges with regard to rebuilding Zimbabwe’s infrastructure from a period of stagnation through the current burgeoning recovery, to a robust action plan for sustained economic growth, along with a set of achievable objectives and targets for the country’s infrastructure by 2020.
As an integral part of AfDB overall reengagement program with Zimbabwe, the Report’s preparation is based on broad stakeholder consultations coordinated by a Bank-wide Zimbabwe Task Team led by the Regional Director, Ebrima Faal. The Report is expected to be of immense value to Zimbabwe government, its bilateral and multilateral donors as well as the sub-region in their design of infrastructure projects and programs. The Report clearly shows that AfDB is at the center-stage of the work program for Zimbabwe to re-engage with the global economy.
During AfDB President Donald Kaberuka’s visit to Zimbabwe from 7-8 March 2011, he re-opened the Bank’s Field Office in Harare and launched an AfDB-managed Multi-donor Trust Fund for the country. President Kaberuka assured Zimbabwean authorities that the AfDB stood ready to assist the country to work out a realistic debt management framework so as to boost investor confidence and partners’ perception about the country.