African Development Bank Group (https://www.AfDB.org) President Dr. Akinwumi Adesina arrived in Zimbabwe at the start of a two-day official visit to the country.
Adesina accepted a request in February by the Zimbabwean government to serve as the country’s arrears clearance and debt resolution champion among international financial institutions and bilateral creditors.
The Bank Group President will meet with President Emmerson Dambudzo Mnangagwa and other government officials, including Finance and Economic Development Minister Mthuli Ncube, who is also Zimbabwe’s Governor on the Bank Group’s Board of Governors.
Discussions will focus on potential areas of technical assistance that the African Development Bank will provide to the Zimbabwean government. President Mnangagwa, elected in 2018, has introduced several economic reforms to stimulate economic recovery and stability.
Adesina will meet with several African and G7 ambassadors and representatives of international financial institutions accredited to Zimbabwe.
Zimbabwe is the only regional member country of the African Development Bank currently under sanctions from the Bank and other multilateral financial institutions because of debt arrears amounting to over $2.6 billion.
The African Development Bank has run the $145.8 million Zimbabwe Multi-Donor Trust Fund (https://bit.ly/3avFshf) (‘the ZimFund’) from 2010 through June this year. The ZimFund has been an important source of financial support for the country’s energy, water and sanitation infrastructure.
The seven ZimFund financiers are the United Kingdom, Australia, Germany, Sweden, Denmark, Norway and Switzerland.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Contacts:
Emeka Anuforo
Communication and External Relations Department
media@afdb.org
Sikhanyisiwe Mlotshwa
Zimbabwe Multi-Donor Trust Fund
About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org
