HARARE – The Finance Minister, Patrick Chinamasa, on Wednesday said Zimbabwe has received a 108 million dollars grant from the African Development Bank (AfDB) to improve electricity and water supplies in the country.
Chinamasa said that the money would be used to repair the Kariba Dam, which generates most of the country’s power, and to fix electricity transmission lines.
The minister said that water supplies in the second largest city Bulawayo and a smaller town would also be improved.
“I am very pleased that this assistance has come at the right time. Infrastructure is critical and a priority in the resuscitation of our economy,’’ Chinamasa told reporters.
The southern African country owed foreign creditors like the AfDB, World Bank and International Monetary Fund, 9 billion dollars, which has prevented it from accessing fresh loans required to rebuild roads, schools and hospitals.
Report says Zimbabwe is projected to spend 81 per cent of its national budget on salaries for state workers next year, leaving little to develop infrastructure. (Reuters/NAN)
- Latest
- Trending
