Zimbabwe needs $18bn to rebuild infrastructure – UN expert

via Zim needs $18bn to rebuild infrastructure – UN expert | The Source  on April 17, 2014

Zimbabwe requires $18 billion to rehabilitate its run-down infrastructure and attract more foreign direct investment, a United Nations expert said on Thursday.

“If basic internal infrastructure needs cannot be met, even generous fiscal incentives will not be enough to attract and retain investors in the zones,” Amarakoon Bandara of United Nations Development Programme told delegates attending a conference on Special Economic Zones.

“Delivering hard and soft infrastructure inside the zones effectively and integrating them with the domestic market must be a priority.”

Bandara said poor infrastructure was a common hurdle in Africa’s quest to attract investment and business growth.

“Poor road connectivity and serious port-related delays undermine competitiveness and discourage investors. Infrastructure in Zimbabwe is on average 30 years old and requires about $18 billion for modernization,” Bandara said.

“Most problematic is hard infrastructure, but soft infrastructure, especially in relation to customs and trade facilitation, is also an important determinant of success or failure.”

Bandara said financing of SEZs should not be a burden on the rest of the economy.

“Persistent financial burden on the rest of the economy could undermine development outside Zones and thus the net benefit of SEZs could in fact fall short of the cost for the economy as a whole,” he said.

 

COMMENTS

WORDPRESS: 8
  • comment-avatar
    Roving Ambassador 8 years ago

    anything that has to do with developing the country ,Zanu will pay lips service to. their interest is in looting . Get the money coming in then pounce. Buy cars, more girlfriends and then prepare to rig another election.
    Pasi neZanu.

  • comment-avatar
    John Thomas 8 years ago

    Our government is not up to any progressive moves. This talk is premature.

  • comment-avatar
    Fallenz 8 years ago

    Can we only imagine how that US$18B would be distributed… Roving Ambassador is correct… most would be rolled out as “bonuses” or bogus contracts with Zanubuddies, with intentionally sloppy accounting to avoid audit discoveries. History would only repeat itself.

    What Zim first needs isn’t money, but integrity.

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    Maita kurima hamubviri 8 years ago

    with that money, our first priority will be to buy Nikuv. Nikuv will never be a foreign company.

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    munzwa 8 years ago

    No we don’t need $18 B!! we need the political will to implement the reconstruction in a transparent manner, I am sure the $18B could be found in foreign bank accounts belonging to these zanu thieves and their families….

  • comment-avatar
    Don Cox 8 years ago

    The first priority is not infrastructure, or even leadership.

    It is the repeal of POSA. Which costs no money.

  • comment-avatar

    These people in ZANU PF there are 100% aware that there are graves if you can check age group in the part members you can hardly find anyone of them who is less then 50 years all of them there are just waiting for they grave numbers so do not expect any good things from such people. These people are cruel,heartless if you can remember how they planned Gukurahundi massacre were Ndebele were killed like birds…if you can imagine the person who is so called you first Citizen paying millions of State to train fellow citizen so that they can kill you own brother, children, and if you are to ask why were our country man slaughtered none want to say anything about it or you will be killed by Mugabe CIO group who are trained to get read of anyone who what to know to much….may lord take this heartless away please they will be independent in Zimbabwe if this man and his people are on this planet,,,,amen

  • comment-avatar
    Petal 8 years ago

    If the money comes from outside the ones that are giving the money must MONITOR IT EVERY EVERY STEP OR ELSE IT WILL BE GOBBLED UP BY SOME!!!