Govt commits to strengthening relations with the World Bank

Staff Reporter

Government is committed to continue strengthening working relations with the World Bank (WB) as that will quicken the realization of Vision 2030 and the successful implementation of the National Development Strategy Phase one (NDS1), a Cabinet Minister has said.

In a statement yesterday, the Ministry of Finance and Economic Development confirmed that Minister Mthuli Ncube held a meeting with WB’s New Country Director for the Eastern and Southern Africa Region, Nathan Belete and discussed various economic issues.

“Honourable Minister Mthuli Ncube, Deputy Minister Clemence Chiduwa and Permanent Secretary, George Guvamatanga held a meeting with the new Country Director for the Eastern and Southern Africa Region, Nathan Belete. Minister Mthuli acknowledged the support which the country continues to receive from WB towards the post Cyclone Idai recovery and resilience building, health sector, response to Covid 19, social protection as well as technical assistance and mission visits.

“Minister Ncube highlighted to Mr Belete that the Government of Zimbabwe remains committed to engagement and re-engagement process with the international community and creditors for debt resolution and arrears clearance as pronounced in NDS1,” reads the statement.

Economic analyst, Stanley Mlambo commended the meeting between Minister Ncube and WB Director Belete and described it as a manifestation of the success of President Mnangagwa’s engagement and re-engagement policy.

“This is a great initiative as no economy survives on its own without the assistance of global financial institutions. A good relationship with the World Bank is good for the country as it will assist in the implementation of NDS1 and realization of Vision 2030,” said Mlambo.

Meanwhile, the World Bank has been supporting the country’s developmental initiatives. In 2019, it approved a US$72 million grant from the International Development Association Crisis Response Window to the United Nations Office for Project Services (UNOPS) for the Zimbabwe Idai Recovery Project (ZIRP). The financing helped to mitigate the impact of Cyclone Idai on the most affected communities of Zimbabwe and lay a foundation for regional recovery and longer-term resilience.