Ne­go­ti­a­tions un­der­way for Zhove project fund­ing

Chronicle (Zimbabwe) - - Business - Harare Bureau

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.

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