Online Reporter
Victoria Falls Reporter, Rutendo Nyeve
THE SADC region has made significant progress regarding the resource mobilisation efforts for the Regional Development Fund (RDF).
Speaking at the Committee of Ministers of Finance and Investment meeting, SADC Executive Secretary, Mr Elias Magosi reported on the progress made since the mandate given to the Secretariat in December 2024 to engage the African Development Bank (AfDB).
He revealed that the AfDB has committed to supporting the Fund’s initial phase, having submitted a Project Proposal Note to access 5 million Units of Account (approximately $6.5 million) under the Bank’s Transition Support Facility.
A second request for $10 million is planned for July 2025.
Mr Magosi also acknowledged the outgoing AfDB President, Dr Akinwumi Adesina, for his unwavering support and expressed optimism about ongoing collaboration with his successor, Dr Sidi Ould Tah.
“We are deeply appreciative of Dr Adesina’s gracious acceptance and unwavering support for the request from SADC Ministers of Finance and Investment,” he said.
The RDF embodies SADC’s ambition to shape its own economic destiny, representing a lifeline for Zimbabwe to address fiscal constraints and unlock new growth opportunities.
