Zimbabwe Needs U.S.$1,5 Billion Annually for Infrastructure

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Enterprise Television- Zimbabwe Needs U.S.$1,5 Billion Annually for Infrastructure

Finance and Economic Planning Minister Patrick Chinamasa, has said Zimbabwe requires around $1,5 billion annually for infrastructure to kick start economic growth.

Minister Chinamasa recently told parliament that a significant fund should be reserved yearly to develop energy, water, rail and Information and Communications Technology (ICT) sectors.

The Government set aside a total budget of $139 million for rail, road and air projects to improve and rehabilitate the country’s transport network infrastructure to enhance their efficiency.

Meanwhile, the Infrastructure Development Bank of Zimbabwe (IDBZ) said Zimbabwe requires at least $26 billion over a period of 10 years to address a gap in infrastructural development and become competitive for investment.

Figures from the IBDZ show that Zimbabwe has been using between $1 billion and $3 billion per year since 2010 with the highest figure being $500 million used in 2016.