Zim, EU sign US$80m financing deals

These agreements reinforce the EU’s commitment to complement the government’s efforts in implementing the National Development Strategy 1 (2012-2025) and the EU’s Global Gateway Strategy shared priorities.

The programme intends to accelerate the green transition by supporting agri-value chains. It has a budget of 26 million euros and focuses on green economic growth by supporting the horticultural and small grain value chains, as well as renewable energy for value chain development.Biodiversity enhancement and resilience building have been allocated 26 million euros, and it will support human-centred biodiversity conservation efforts through wildlife conservation efforts, which include resilience-building activities for the affected population, in two areas of high biodiversity value at the regional level.

Furthermore, a budget of 16 million Euros has been allocated to transparency and accountability, which will contribute to increasing citizens’ effective participation in holding the government accountable and claiming their rights, as well as strengthening service delivery and access to justice at the local level, while 7 million Euros has been allocated to gender equality and women’s empowerment, which will focus on strengthening women’s socioeconomic empowerment as a means of ending violence against women and children.

Speaking during the signing ceremony today in the capital, the Minister of Finance, Economic Development, and Investment Promotion noted that “Zimbabwe remains grateful for the EU support, and today marks another milestone in our cooperation. As you have noted, the support is building upon and reinforcing the investments made under the 11th European Development Fund, and dovetails with our national development thrust as enunciated in the National Development Strategy 1.

The finances have been identified through a concerted effort involving Zimbabwe’s government, the private sector, civil society, and other key stakeholders. These projects mark the second phase of funding under the EU’s 148 million Euros (USD160 million) allocation to the Zimbabwe Multi-annual Indicative Programme (2021-2024).

Ambassador of the European Union to the Republic of Zimbabwe, H.E Jobst von Kirchmann spoke on the same event that “Today’s financing agreements mark a major milestone in the shared commitment between Team Europe and Zimbabwe to promote sustainable, inclusive growth across the country.

“By aligning the EU’s Global Gateway priorities with Zimbabwe’s National Development Strategy 1, we are addressing immediate needs while empowering Zimbabweans-especially women and youth-to build a resilient society and economy . Together, we are investing in a sustainable future that will benefit generations to come.”The EU is the 4th largest trading partner of Zimbabwe, buying 42% of its horticulture products. The EU-Zimbabwe Economic Partnership Agreement allows duty-free and quota-free exports to the EU. The EU is mobilizing companies to invest in Zimbabwe, using the ZITF 2024 as a platform.