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Business Reporter
The World Bank has appointed Eneida Fernandes as the new country manager for Zimbabwe, and she takes over from Marjorie Mpundu who has held the position since November 2021.
In a statement yesterday, the World Bank said Ms Fernandes’ priorities would be to lead the bank’s operational programmes and engagement in the arrears clearance and debt resolution efforts, sustain and grow a constructive dialogue with the Government and work alongside key stakeholders and partners to coordinate action and catalyse change.
“I am excited to begin my assignment and look forward to deepening our engagement in the country,” Ms Fernandes said.
“Through knowledge, financing, and partnerships, we will continue to work with the Government of Zimbabwe and other stakeholders in line with our mission of creating a world free of poverty on a livable planet.
The World Bank country portfolio includes the Zimbabwe Health Sector Development Support Project and the Zimbabwe Covid-19 Emergency Response Project.
The portfolio also includes some advisory programmes of the International Finance Corporation, including the Zimbabwe Destination Development Programme.
Other sectors in the portfolio are social protection, energy, water, climate, governance, agriculture, and poverty monitoring.
A new country engagement note is also under preparation and will focus on strengthening macroeconomic stability, promoting effective and transparent governance, and building resilience.
Ms Fernandes, a Brazilian national, joined the bank in 2008 and has held various positions, with her most recent assignment being resident representative for Cabo Verde.
Ms Fernandes has more than 20 years of experience in development, spanning operations and management in Africa, Latin America, and the Caribbean.
The World Bank is among the global financial institutions owed by Zimbabwe.
The bank suspended lending to Zimbabwe in 2000 after the country defaulted on its debt. However, the World Bank continues to provide technical assistance and analytical work to the Government.
In 2022, Zimbabwe launched a debt restructuring plan, being championed by the African Development Bank in an effort to make its debt sustainable.
The plan aims to reduce Zimbabwe’s debt burden and has been welcomed by the international community, but it remains to be seen whether it will be successful.
The World Bank has said it is willing to support Zimbabwe’s debt restructuring efforts, but only if the country implements the necessary economic reforms.
These reforms include addressing corruption, reducing government spending, and improving the efficiency of the public sector.
Online Reporter