Zimbabwe Signs $53.4 Million Infrastructure Grant With Bank

Jan. 22 (Bloomberg) -- Zimbabwe signed a $53.4 million grant agreement with the African Development Bank to rehabilitate the country’s infrastructure, covering power, water and transport, Finance Minister Patrick Chinamasa told reporters in the capital, Harare.

“Our priority is energy, we must reduce and eliminate the energy deficit,” Chinamasa said.

Of the total, $15.4 million is power infrastructure, $19.8 million for water and sanitation, $8 million for governance, $4.1 million for youth training, $4.6 million for emergency power rehabilitation, and $1.3 million for a transport sector master plan.

To contact the reporter on this story: Hilton Shone in Johannesburg at hshone@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net