‘$1,3bn released for Covid-19 fight’

Farirai Machivenyika

Senior Reporter

So far $1,3 billion has been released to several ministries to finance the fight against Covid-19, with Health and Child Welfare getting almost half, with a further $1,8 billion of development funding going towards the winter wheat programme.

Finance and Economic Development Minister Professor Mthuli Ncube told the Portfolio Committee on Budget, Finance and Economic Development in Harare yesterday that winter wheat funds had been availed to banks for onward lending to wheat farmers.

Further discussions were in progress with financial institutions over the modalities of lending more of the $18 billion earmarked for recovery and development, with many sectors requiring help to maintain working capital requirements. He was accompanied to the committee meeting by Permanent Secretary in the ministry Mr George Guvamatanga and other senior officials.

“So far as of 31 May Treasury has made budget releases of the order of $1,3 billion, of which actual cash disbursements is about $1,1 billion but $1,3 billion has been released to support the (fight against) Covid 19 from the budget,” Prof Ncube said.