Online Reporter
Herald Correspondent
The African Development Bank (AfDB) has reaffirmed its commitment to supporting Zimbabwe and the wider Southern African region through project financing, technical assistance and capacity-building initiatives.
AfDB executive director for Southern Africa, Dr Eugénio Maria Paulo said this on Wednesday evening after paying a courtesy call on the Foreign Affairs and International Trade Minister Professor Amon Murwira.
The two officials’ discussions centred on ongoing and future collaboration between the bank and the Government.
Dr Paulo said the bank focuses on human capacity development, particularly among the youth.
“The AfDB collaborates with African nations through financing projects, technical assistance, and training,” he said.
“Most importantly, we train youth, because that is where the real value lies if we are serious about developing our countries and the continent.”
The talks also addressed key regional challenges, notably the limited access to financing for large-scale transformative projects and capacity constraints that hamper development initiatives.
“One of the biggest challenges remains access to adequate financing for projects that can transform economies and uplift communities,” Dr Paulo said.
“Another challenge, particularly across parts of Africa, is capacity. Addressing both financing and capacity development will allow us to support countries and the region to achieve sustainable growth.”
On regional integration, Dr Paulo noted the AfDB’s role in fostering economic and social cohesion.
“We are helping countries realise the benefits of integration, for example, advocating for visa-free movement across Africa,” he said.
“We are also financing projects and building institutional capacity to boost intra-African trade.”
He further emphasised the pivotal role of development finance institutions (DFIs) in mobilising resources and enhancing Africa’s credibility in global economic systems.
“Financial institutions like the AfDB can create an enabling environment for investment. One of the biggest constraints we face is the perception of risk,” he said.
“Often, this is not the reality but a matter of perception. Our role is to help the world understand that Africa is a viable place for business and development.”
Minister Murwira welcomed the visit, acknowledging the AfDB’s continued partnership and unwavering support for the country’s development agenda.
