Exim Bank of India set to promote Zimbabwe Infrastructure.
India Exim Bank is making plans to share its infrastructure ideas with Zimbabwe. This is after the bank announced its plans to visit the nation with the aim to promote their export goods. The bank role will be to coordinate and act as a facilitator towards promoting project export.
According to report from African Development Bank (AfDB), Zimbabwe needs over US$30 billion to revamp its aging and dilapidated infrastructure. This is after series of failures towards the lack of funding for capital projects.
Meanwhile, President Emmerson Mnangagwa’s government has said it wants to rebuild roads, dams and other national assets to world class standards.
Global Renaissance chief executive Ngonidzashe Dzirutwe said “The summit is set to promote and motivate the government officials towards creating good infrastructure. He also said it will attract foreign direct investment from project funders and encourages local funding participation.”
According to Dzirutwe, We want to achieve oneness to local development, promote information dissemination, consultative policies. He also said they want local government to upgrade the standards and provide low cost housing, lure foreign and local funders. He said it will ensure local contractors are in tune with international developments.
The meet will also promote the fast development of new Harare to alleviate housing shortages. It will also encourage easy doing business and the establishment of functional economic zones.
The nation has been facing poor infrastructure due to lack of of financial investment in the sector. This has made investment in infrastructure difficult to undertake in Zimbabwe.