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Friday, March 31, 2023

ZIDA in partnership with World Bank to enhance investment capacity

By Davison Vandira

 ZIMBABWE Investment and Development Agency (ZIDA) has entered into a capacity development programme with the World Bank through the International Finance Cooperation (IFC)to enhance Zimbabwe’s investment drive.

The World Bank through International Finance Cooperation has poured in US$900 000 into the Zimbabwe Investment and Development Agency (ZIDA) for collaboration and technical support under the Zimbabwe Investment Policy and Promotion Programme (ZIPP).

ZIDA Chief Executive Officer, Mr Tafadzwa Chinamo is optimistic the partnership with the World Bank will support key elements in the operationalisation of the Special Economic Zones regime that will broaden the country’s investment climate.

“The overall objective of ZIPPP is for IFC to support ZIDA’s operationalisation and capacity development. The funds will help us in providing technical and advisory support for institutional development and strengthening of ZIDA staff,” he said.

World Bank Country Manager, Mrs Marjorie Mpundu is confident that with the right support, Zimbabwe is poised for improved investment promotion and enhanced retention capacity, hence the provision of this technical support.

“As the World Bank, we are committed to seeing economic development taking place in Zimbabwe, as such, we have identified a gap in capacity building and we have come in with the right support to plug it and give ZIDA the efficacy it deserves,” noted Mpundu.

The Second Republic continues with its extensive re-engagement and engagement efforts to put brand Zimbabwe on the global sphere, with the country recently hosting a Commonwealth team that was in the country to assess the reforms being undertaken.

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