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AfDB, Govt launch $26m projects

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Business Reporter
The Government and the African Development Bank (AfDB) have launched three projects worth $26 million that were recently approved by the financier.

The three ventures are Alaska Karoi Transmission Reinforcement Project ($18 million), the Youth and Women Empowerment Project ($4 million) and the Institutional Support for State Enterprise Reform and Delivery Project ($4 million).

The accountant general in the Ministry of Finance and Economic Development, Mr Daniel Muchemwa, lauded the financial institution on behalf of the Government for supporting the three projects that are aligned with the country’s development agenda as outlined in the Interim Poverty Reduction Strategy Paper (I-PRSP) and Zim-Asset.

“Approval of these projects is a testament to the cordial relationship between the AfDB and the Government of Zimbabwe,” he was quoted as saying.

The objective of the Alaska Karoi Transmission Reinforcement Project is to strengthen and increase the country’s sub-transmission network capacity resulting in increased reliability and quality of electricity supply in and around Karoi area (agricultural hub).

The power project is also aimed at developing a national master plan for the generation, transmission and distribution of energy in the country.

It is also hoped that the Youth and Women Empowerment Project will support the creation of employment opportunities and the improvement of the incomes of targeted women and youth groups, as well as, the improvement of gender mainstreaming in Zimbabwe’s ministerial programmes.

The Institutional Support for State Enterprise Reform and Delivery Project will contribute to improved governance of State-owned enterprises and strengthening of results-based management systems within Government.

An AfDB official in Zimbabwe Mrs Mary Monyau noted that the projects were consistent with the Government’s priorities as enshrined in the country’s main policy blue prints and strategies as well as the bank’s 10-year strategy and the High 5 priority areas.

AfDB’s 10-year strategy and the HIGH 5 priority areas focus on inclusive growth and economic transformation with support for lighting up and powering Africa, feeding, industrialising, and integrating the continent as well as improving the quality of life of Africans.

Source :

chronicle

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