Financial Institutions urged to avail more resources in Infrastructure Development

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By Bulawayo Correspondent 

FINANCIAL institutions and investors have been urged to compliment the government’s efforts in availing more financial resources for infrastructure development.

Speaking at the inaugural Infrastructure and Built Environment Confex (AfriConfex) export in Bulawayo Friday, Transport and Infrastructural Development Minister, Felix Mhona said private sector financing of infrastructure development will go a long way in closing the existing infrastructure financing gap in the country.

“As most of you will relate, infrastructure financing needs investment over a long period of time. Conscious of this, the government established the Infrastructure Development Bank of Zimbabwe (IDBZ), mandated to fund long and medium- term key infrastructure projects.

“There is now an increasing need for enhanced participation of the private sector, especially as long –term financiers in infrastructure projects,” said Mhona.

The minister said there is a need to mobilise large pool of capital which institutional investors hold.

“Tapping just a fraction of this into infrastructure will go a long way in closing the existing infrastructure gap. Together as one, we can do more to accelerate sustainable infrastructure investments in Zimbabwe through win-win partnerships,” said Mhona.

The exhibition was organised by the Zimbabwe International Trade Fair (ZITF).

Buyers and sellers within the built environment value chain participated in the two day exhibition.

The Zimbabwe National Roads Authority (ZINARA) scooped a gold medal for having the best stand while the Zimbabwe Traffic Safety Board (ZTAB) stand won a silver medal.

The bronze medal went to the Airports Company of Zimbabwe.

The new exhibition joins a catalogue of ZITF’s annual specialized expos such as the Mine Entra, Scholastica, Water, Sanitation and Hygiene (WASH) and the Zimbabwe International Trade Fair (ZITF).