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Treasury Says US$40 billion Is Needed To Fix Zimbabwe’s Infrastructure

Treasury Says US$40 billion Is Needed To Fix Zimbabwe’s Infrastructure

The deputy minister of Finance and Economic Development, Clemence Chiduwa says US$40 billion is needed to fix Zimbabwe’s infrastructure.

Chiduwa made the remarks while addressing journalists in Harare after meeting Africa50 chief operating officer Tshepidi Moremong in Harare.

He said the US$40 billion will maintain and develop new infrastructure, NewsDay reported. 

Africa 50 is a Pan African infrastructure Investment platform, which the government engaged to assist with funding the country’s development projects. Chiduwa said:

Our funding requirements for infrastructure covering all the sectors of the economy and all the 14 priority areas is amounting to US$40 billion, but having looked at our financing options and the fiscal space that we have, we are constrained in that area.  Having consulted Africa50 and Zimbabwe as one of the shareholders to Africa50, we then discussed innovative financing options and one of them is on asset recycling.

So, Africa50 is here for us to discuss those options. The projects that we are looking at are those that are in the ICT sector; especially the ones on fibre optics and the development of fibre is in line again with the National Development Strategy (NDS 1) where digital economy is a priority area.  We are also looking at energy development and also infrastructure development, especially on airports.

On the part of Africa50, we are also looking at them; hand-holding us; especially with regards to the identification of projects and also how best we can identify projects that we think are bankable, viable and low hanging fruits.

Zimbabwe has been struggling to develop its infrastructure, including the expansion of the Robert Mugabe international airport, Mbudzi interchange, and Harare- Beitbridge highway due to its shrinking fiscal space.

Meanwhile, government critics, including the Zimbabwe Coalition on Debt and Development (ZIMCODD), have been sceptical of the government’s borrowing, some of which are not sanctioned by the Parliament.

Some say the government could be borrowing to enrich individuals while others are saying the debts are not sustainable.

Pindula News

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Chipoko chaQueen 1 month ago

Well 15 Billion tirikutenga maAdidas tracksuit zvedrip kuno kudenga naBhobho
Tichatumira Madungwe nechange inenge yasara

dispenser 1 month ago

after change of Gvt yes ,not with Ediots

King Nyale 1 month ago

pakaipa wena

dispenser 1 month ago

Mugabe 's gesture was right when he forced Tsvangirai into Gvt . The evil one cultivate a plan to poison Tsvangirai thinking Mugabe's plan is to live Tsvangirai at e reim of Gvt . Just imagine where cld we have been as a country .

Tru 1 month ago

Tsvangirai refused the re run in 2018 when zanu started Killing the opposition and the economy went from bad to worse the shops had nothing. and mugabe and crew asked for a gnu a smart move thats how the US came into play and everything became better.

2008/9 1 month ago

who forced who?

People Of Various Opinions 1 month ago

So in other words what you mean is you want to loot us40 billion & leave our grandchildren enslaved in debt....l have no comment

King Nyale 1 month ago

lets hope zvichaita chete


Kopo 1 month ago

Zim as a country shld eat wat we hunt.. Gvt shld invest in capital projects first then totangira kwete ku disha ma Lithium minez to Chinese jst for a few rtgs

Ellie 1 month ago

Mube mutore my loote

Tintin 1 month ago

already creating a loop to loot from the Muzarabani oil fields...command infrastructure development... loading.

Jah🇿🇼Tsvarie-07 1 month ago

If our resources were resourceful for the nation infrastructure is jus nothing

Dem loot 1 month ago

looters paradise

G Wagon 1 month ago

40 billion its too much to build Zim pasina corruption 15 billion iribhoo ende kanyika kedu kanobva kanaka takufambira mutara. I think we need a bullet train

cde chipopi 1 month ago

40 billion husa for a poor country like Zimbabwe. Where does it come from. This is just a pipe dream that will never crystallise into reality up and until madhongi amera nyanga

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