Online Reporter
Nqobile Bhebhe
THE Ministry of Finance, Economic Development and Investment Promotion says Government has expressed its willingness to join the Multilateral Cooperation Center for Development Finance (MCDF) as an Observer to the organisation’s Coordination Committee, in a move aimed at unlocking critical infrastructure financing and strengthening international partnerships.
The ministry said a formal letter will be submitted to operationalise this intention, marking another step in Zimbabwe’s re-engagement efforts on the global stage.
In a statement posted on its official X account, the ministry underscored the centrality of infrastructure development to the country’s economic transformation agenda.
“Developing robust infrastructure remains central to Zimbabwe’s National Development Strategy 2 (NDS2). In order to ensure that major projects are delivered to the highest standards, the nation is committed to combining its domestic financial resources with support from international partners.
“Zimbabwe is leveraging its engagement and re-engagement efforts on the global stage to actively pursue new collaborations. The objective is to establish partnerships that deliver durable infrastructure solutions resilient to the impacts of climate change and aligned with top international benchmarks,” the ministry said.
The engagement follows a high-level meeting held in Harare this week between Ministry officials and representatives from the MCDF, signalling growing momentum towards enhanced cooperation.
“In this context, a significant meeting was held in Harare this week between Ministry officials led by Mr Andrew Bvumbe, Head of the Zimbabwe Public Debt Management Office (ZPDMO), and officials from the Multilateral Cooperation Center for Development Finance (MCDF), led by its Chief Executive Officer, Mr Zhongjing Wang.
“The discussions centered on strengthening South-South collaboration and advancing capacity-building programmes to promote cross-border economic growth and development among developing nations.
“Zimbabwe’s prospective cooperation with the MCDF is envisaged to unlock critical streams of financing that will directly support the achievement of NDS2 objectives aimed at enhancing energy security, driving industrial growth, strengthening climate resilience, and fostering inclusive economic development,” the ministry said.
The ministry added that Government has expressed its willingness to join the MCDF as an Observer to the organisation’s Coordination Committee and will subsequently submit a formal letter to operationalise this intention.
Bongani Ndlovu