Online Reporter
Oliver Kazunga
Senior Reporter
THE African Development Bank (AfDB) has launched a US$4 million programme to accelerate Zimbabwe’s arrears clearance and debt resolution process.
This a major step expected to unlock international development financing, boost investor confidence and support the country’s drive towards an upper-middle-income society by 2030.
The three-year programme, which is called the Zimbabwe Arrears Clearance Dialogue Enhancement Project (ZACDEP), runs until June 2029 — and is expected to strengthen the Government’s engagement with international creditors while supporting key economic, governance and land reforms that underpin the country’s debt resolution roadmap.
The project comes as Zimbabwe intensifies efforts to normalise relations with international financial institutions following the recent successful conclusion of the first review of the International Monetary Fund’s Staff Monitored Programme.
Speaking at ZACDEP launch event in Harare today, the head of the Zimbabwe Public Debt Management Office, Mr Andrew Bvumbe, who was represented by deputy director for monitoring, compliance and risk management Mr Tinotenda Karise, said resolving the country’s arrears remained critical to unlocking affordable development financing and attracting new investment into the economy.
“The clearance of arrears and debt resolution remains critical for macroeconomic stabilisation, promoting inward investments into our economy, unlocking development financing and achieving inclusive and sustainable economic growth.
“We are grateful to the AfDB for availing resources amounting to UA3 million approximately US$4 million) for this project.
“The project grant agreement was signed on June 30, 2026 and today marks the beginning of implementation for a period of three years up to 30 June 2029,” he said.
