Published On: Tue, Nov 29th, 2016

Government engages Kuwait Fund for Zhove irrigation funding.

Share the article below

Harare- Zimbabwean Government has engaged the Kuwait fund for Arab Economic Development for  $35.7 mln funding for the Zhove irrigation project in Beitbridge.

The project   which will develop irrigation infrastructure for intensive citrus production on the 2 250 hectares of land is expected to benefit  5000 households upon completion.

Minister of Finance and Economic Development Patrick Chinamasa,  in a statement said  the Kuwait fund is also assisting  with mobilising part of the fund from Abu Dhabi fund for development.

“ The government of Zimbabwe is negotiating with the Kuwait  Fund  for Arab Economic Development for funding  for the Zhove irrigation project in Beitbridge. While the Kuwait fund will provide $20 mln  the government  will contribute $7 mln .The fund is assisting with mobilising  the remaining $8,7 mln from the Abu Dhabi Fund for development,” he said.

The funds representatives are set to visit Harare  this  month on an a appraisal mission of the Zhove irrigation project.

Chinamasa said the project is in line with government policy strategy   to eradicating poverty ,which resulted  in the launch of the interim  poverty reduction strategy  paper in September 2016.

“It also supports the goal of poverty eradication as envisaged in the country’s economic  blueprint ,the Zimbabwe agenda for  sustainable socio-economic  transformation(Zimasset)

State of Kuwait earlier this year indicated that it was prepared to invest in Zimbabwe but those plans were being held up by lack of movement on signing of a Bilateral Investment Promotion and Protection Agreement between the two countries.

The Bippa has been on the table for 12 years and Kuwait – which holds the world’s sixth-largest oil reserves – said it had committed to terms but Zimbabwe appeared reluctant to sign.

The Zhove water canal project has been in the pipeline for several year but the government has been failing to release  funds to kick start it.

Meanwhile  Chinamasa also said negotiations are also underway  for the Fund to  provide technical assistance  for the technical and economic feasibility  study to construct   two district hospitals in Harare.