HARARE Zimbabwe (Xinhua) --
The World Bank (WB) will soon send a team to
Zimbabwe to conduct a needs assessment exercise in preparation
for possible new funding for the country, the state-run Business
Weekly reported Friday.
This came after
Zimbabwean President Emmerson Mnangagwa on Thursday met with WB
chief executive Kristalina Georgieva on the sidelines of the
World Economic Forum summit in Davos where he indicated
Zimbabwe’s resolve to clear arrears with the multilateral
Zimbabwe owes the WB
1.15 billion U.S. dollars and has not been receiving
concessionary loans from the multilateral financial institution
since 2001 when it started defaulting.
“We have agreed that
the World Bank is going to send a mission to conclude
discussions on our needs assessment for post arrears clearance
resource mobilization and support,” the financial paper quoted
Finance Minister Patrick Chinamasa as saying.
“We agreed that we
will undertake a needs assessment of our country and set out the
priorities, and this is the report we can then take to the World
Bank; have it coasted, and then submit it to them so that soon
after clearance of arrears we are able to access concessionary
funding,” he added.
Zimbabwe, which recently cleared its 108 million arrears to the
International Monetary Fund, had already mobilized resources to
clear the WB debt and unlock fresh funding from the bank.
The country also
owes the African Development Bank 601 million dollars and over 3
billion dollars to the Paris Club, among its creditors.
to the newspaper, said the WB team would identify priority
projects that are long and short term, adding that Zimbabwe
wanted a holistic approach which involved a needs assessment,
arrears clearance and access to fresh funding.
“So it’s very
difficult always to put a time frame, because when you are
dealing with institutions it is not always easy to be definitive
about timeframes,” the minister said.
diamond ground rental fees
HARARE Zimbabwe (Xinhua) --
The Zimbabwean government has drastically reduced
annual ground rental fees for diamonds from 3,000 U.S. dollars
to 225 dollars as it seeks more investment into the diamond
A statement released
to media Friday said the reduction was in line with the
government’s thrust on ease of doing business.
“This has been done
in the context of ease of doing business to facilitate
investment in the diamond mining industry,” the statement said.
However, miners will
be required to pay more in respect of mining blocks with the
government currently reviewing the fees and a statement on the
new fee structure would be issued within 30 days, the statement
Zimbabwe President Mnangagwa
reiterates commitment to African Union
Zimbabwe (Xinhua) --
Zimbabwe’s new President, Emmerson Mnangagwa, in
his first appearance to the African Union (AU) as president on
Saturday reiterated Zimbabwe’s full commitment to the
commended Zimbabwe’s former President Robert Mugabe as “a true
pan-Africanist,” also called on AU and its member states for
strengthened socioeconomic partnership.
Mnangagwa made the
remarks during the New Partnership for Africa’s Development’s (NEPAD)
meeting held on the sidelines of the 30th African
Union (AU) summit in Ethiopia’s capital Addis Ababa.
belongs to this big and happy family, the AU, and it pledges its
commitment and readiness to remain fully engaged in all
activities of the continent,” he stressed.
indicated his government’s readiness to work together with
African countries through bilateral and multilateral
“My government has
introduced new economic policies designed to resuscitate the
economy by attracting local and foreign direct investment into
our country as well as promoting trade and tourism,” he said.
“Our message for our
friends and partners in Africa and beyond is that Zimbabwe is
open for business,” Mnangagwa added.
He also noted the
new administration’s aspirations to reengage with Zimbabwe’s
partners “with a view to addressing past misunderstandings.”
called on the AU and NEPAD to help the realization of the
southern African country’s ambitions in all endeavors.
With regard to
Mugabe, Mnangagwa said that the former president is “very fine
and well taken care of by the new dispensation.”
“The preservation of
his legacy, which we are very proud of, is of paramount
importance for us as a nation,” he said.
“Now that President
Mugabe has joined the unique club of elder statesmen of our
continent, it is my hope that Zimbabwe and the continent at
large will continue to draw from his deep reservoir of wisdom
and experience as we endeavor to achieve goals we set for our
regional vision: Agenda 2063,” Mnangagwa said.