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Business Reporter
THE Development Bank of Southern Africa (DBSA) has invited applications from Zimbabwean companies for grant funding of a minimum of $250,000 for economic projects development under the Project Preparation and Development Facility (PPDF).
The funding facility which is open to all Sadc member states is meant to steer economic growth through infrastructure development. Projects to be funded include those in transport, energy, water, tourism and information systems.
DBSA tasked the Infrastructural Development Bank of Zimbabwe (IDBZ) to disseminate information on terms and conditions to local firms.
The main objective of PPDF, said IDBZ in a statement, “is to enhance sustainable economic growth and delivery of key services affecting development within the Sadc region.”
DBSA has been appointed by the Sadc secretariat headquartered in Gaborone, Botswana as an implementing agent and fund manger of PPDF.
Applications for funding support have to be submitted and reach the DBSA not later than October 30, 2014 when the window for accessing the facility closes.
“The DBSA is inviting member states and their various implementing agencies (including) private sector entities) to apply for grant funding from the PPDF for qualifying projects under the set criteria,” said IDBZ.
“The PPDF will finance major service contracts only and for that reason a minimum threshold has been set for project value in tandem with the expected scale of project significance.
“Only projects requiring a grant of a minimum of $250,000 will be considered for support under the facility.”
DBSA, however, said beneficiaries under the facility will be required to contribute a minimum of five percent in monetary terms of the total cost of the proposed project preparatory activity.
Eligible costs to be included in the budget would focus on feasibility studies, economic and financial analysis, design and tender preparation costs, legal and transactional services costs.
Online Reporter