19 January 2018
   
ED Shocker: Mugabe, 93, forgot he fired me
UK-ZIM: Mnangagwa exploits Brexit chance
MDC-T devastated by Bennet’s death
30 ZRP bosses fired, CIO spies too
Parliament: 11 G40 ministers, MPs fired
MDC-T’s Gutu scoffs at party HQ ban
Rule of law under threat – warns Mujuru
24 Nagle High girls up for O’Level fraud
MORE NEWS
SOE DEBATE: Privatise most parastatals
‘Mobile money tax will get dodger vendors’
MORE BUSINESS
Delight as ZBC 'Iron Lady' suspended
Sulu arrested over $4,000 child support
MORE SHOWBIZ
Tendai Ndoro special - says Ajax coach
Zim cricket official charged with fraud
MORE SPORTS
Elections: Not a moment to be lost
A view beyond the Zimbabwe coup
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 
European Union gives Zimbabwe US$98 million
28/09/2015 00:00:00
by Business Reporter
 
Zimbabwe cash boost ... Ambassador Philippe Van Damme
 
RELATED STORIES

THE government on Monday signed five agreements with the European Union under the 11th European Development Fund (EDF) amounting to EUR89 million (about US$98 million) for health, agriculture and institution building.

Speaking at the signing ceremony Secretary for Finance Willard Manungo said the latest advance brings the total draw-down from a facility with the Fund to Euro123 mln in addition to the initial 34 million extended at inception.

Head of EU Delegation to Zimbabwe, Philippe Van Damme, said EU member states are engaging with Zimbabwe not only in the aid front but through trade and investment.

He said this has seen various EU trade missions visiting Zimbabwe on business exploratory trips.

Finance Minister Patrick Chinamasa said: “The signature of these five financial agreements confirms the continuing normalisation of relations in terms of development cooperation between EU and Zimbabwe".

The funding will contribute to the implementation of the national priorities espoused in the government’s ZIMASSET economic plan.

Under the deals signed Monday, the health sector is the largest beneficiary at EUR55 mln which will be channelled to the Health Transition Fund and Health Development fund administered by UNICEF.

A total EUR15 million has been allocated for resilience building in the Food and Nutrition Security Sector and will be administered by UNDP while Public Finance Management reforms will be supported with EUR10 mln through the World Bank’s Zimbabwe Reconstruction Fund.

Ambassador Van Damme said the European Investment Bank is also assessing the possibility of extending new credit lines to the local banking community for on-lending to SMEs.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker