Negotiations underway for Zhove project funding
THE Government is negotiating for a $35,7 million funding facility with the Kuwait Fund for Arab Economic Development to develop the Zhove Irrigation Project in Beitbridge.
Finance and Economic Development Minister Patrick Chinamasa said this in a statement yesterday saying the citrus project would benefit 5 000 households.
“The Kuwait Fund will provide $20 million, while the Government will contribute $7 million and the fund is also assisting with mobilising the remaining $8,7 million from the Abu Dhabi Fund for Development,” he said.
Minister Chinamasa said the project was aimed at eradicating poverty which is in line with the country’s economic blueprint Zim-Asset.
“This project is in line with Government’s policy thrust to eradicating poverty, which resulted in the launch of the Interim Poverty Reduction Strategy Paper in September this year,” he said.
The IPRSP strategy paper is anchored on seven pillars including agriculture productivity, social services sectors, private sector, infrastructure sector, environment and climate change, gender women and youth development and strengthening governance.
Minister Chinamasa said the officials from the Kuwait Fund are in the country on an appraisal mission of the Zhove Irrigation Project.
“Negotiations are underway for the Fund to provide technical assistance for the technical and economic feasibility study to construct two district hospitals in Harare and the Ministry of Finance and Development is leading the negotiations on behalf of the Government,” he said.
The Kuwait Fund for Arab Economic Development operates in 48 African countries and provides development assistance through funding projects in various sectors.