via Sweden pledges $3m for infrastructure development 27 November 2014 by Victoria Mtomba
SWEDEN has pledged $3 million under Zimbabwe Multi Donor Trust Fund (Zimfund) for the rehabilitation of power and water infrastructure in the country bringing to $16 million the contribution that country has given to Zimbabwe.
Speaking at the signing ceremony yesterday Swedish ambassador Lars Ronnas said the contribution brought funds that the country has contributed to $125 million with the other partners that include Norway, Germany, United Kingdom and others.
The donors raise the funds and African Development Bank (AfDB)manages it on their behalf.
“We are also encouraged by government collaboration with the international financial institutions and the Staff Monitored Programme. We look forward to seeing how we would be able to be part of it,” he said.
Ronnas said investors were looking for predictability as they were long-term and not short-term investors.
AfDB resident representative for Zimbabwe Mateus Magala said the first phase of Zimfund would be complete by the end of this year and focus would be on the second phase that began in June this year.
The projects from Zimfund were expected to benefit over 3 million people in Harare, Chitungwiza and other cities countrywide.
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