UK commits £3 million for Zimbabwe recovery

zim flagfrom MARCUS MUSHONGA in Harare, Zimbabwe
HARARE, (CAJ News) – THE United Kingdom (UK) has committed an additional £3 million (R50,2 million) towards Zimbabwe’s economic recovery.

The latest support underlines the revival of relations between the European country and its former colony after years of hostilities with the regime of now-deposed leader, Robert Mugabe.

UK’s Department for International Development (DFID) has allocated the financial package to the Zimbabwe Reconstruction Fund (ZIMREF).

The funds are in addition to an earlier contribution of £6 million (over R100 million) by DFID.

Annabel Gerry, Head of DFID Zimbabwe, said the support would enable the Southern African country advance its economic reform commitments to ensure recovery.

The additional funding would provide increased support to the government’s efforts to revise investment laws, eradicate poverty, expand agriculture and revive state-owned enterprises and the education sector.

ZIMREF is a World Bank-administered multi-donor trust fund.

“The funding will be useful for tracking progress toward the elimination of extreme poverty and for achievement of other social development goals,” said Mukami Kariuki, World Bank manager in Zimbabwe.

Relations between Zimbabwe and its former colonial master as well as the rest of the Western world have been strained over the past two decades.

They have thawed after Mugabe yielded to pressure to resign in November last year.

His former deputy, Emmerson Mnangagwa, has assumed the presidency with a pledge to restore the country to its past glory as continental economic powerhouse.
– CAJ News

Short URL: http://cajnewsafrica.com/?p=25669

Posted by on Mar 23 2018. Filed under Africa & World, Featured, Finance, National, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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