AfDB approves Zimfund phase two

AfDB approves Zimfund phase two
Published: 24 October 2013
The African Development Bank has approved disbursement of at least $40 million for implementing various rehabilitation projects in the power and water sectors under the second phase of the Zimfund project, an official said on Wednesday.

Zimfund manager Emmanuel Nzabanita told New Ziana implementation of projects under the second phase would start immediately.

"Phase two for water and for electricity, the bank (AfDB) has just approved both of them so they will start immediately and it will cost about $40 million for both water and electricity," he said.

"For phase two in terms of water we will now be looking at the reticulation level by trying to replace rotten pumps and pipes so that is also coming immediately."

Mr Nzabanita said at the moment the bank was concluding projects being implemented under the first phase which commenced early this year. The fund, which was established in 2010, was created to contribute to early recovery of the country's economy by mobilizing donor resources and promoting donor co-ordination in Zimbabwe.

Its initial focus is on infrastructure investments, rehabilitation and/or construction in the areas of water and sanitation and energy.

Contributors to the fund include Australia, Denmark, Germany, Norway, Sweden and the United Kingdom while the African Development Bank (AfDB) manages it on behalf of the donors.

- New Ziana
Tags: AfDB,


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