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ZMIREF receives additional funding from DFID for economic recovery

The funds are in addition to an earlier contribution of 6 million pounds (USD8.4 million) by DFID in 2015


Devdiscourse News Desk
Updated: 24-03-2018 10:17 IST
ZMIREF receives additional funding from DFID for economic recovery

Economic recovery of Zimbabwe (representative image)

The United Kingdom's Department for International Development (DFID) has granted an additional 3 million pounds (nearly USD4.12 million) for the economic recovery of Zimbabwe.

The fund was granted to the Zimbabwe Reconstruction Fund (ZIMREF) to help strengthen the country's policy frameworks and delivery systems. The funds are in addition to an earlier contribution of 6 million pounds (USD8.4 million) by DFID in 2015.

The UK's Department for International Development (DFID) is working to support the poorest Zimbabweans as well as helping lay the foundations for a more prosperous, peaceful and democratic Zimbabwe, driving growth and poverty reduction.

Annabel Gerry, Head of DFID Zimbabwe told, "We are pleased to be committing a further 3 million pounds of UK support to ZIMREF. This will enable the World Bank to scale up technical advice to the Government of Zimbabwe as it takes forward its economic reform commitments to ensure economic recovery and a more prosperous future for all Zimbabweans."

The funding will assist the government's government's efforts to revise investment laws, Poverty Income Consumption Expenditure Survey (PICES), expand agriculture, climate change and revive state-owned enterprises and the education sector.

"The funding will be useful for tracking progress toward the elimination of extreme poverty and for the achievement of other social development goals," stated Mukami Kariuki, World Bank manager in Zimbabwe.

ZIMREF is a World Bank-administered multi-donor trust fund that has received financial contributions and commitments from the Governments of Denmark, Norway, Sweden, Switzerland, the United Kingdom (from DFID), in addition to the European Union and the World Bank's State and Peace Building Fund.

COUNTRY : Zimbabwe