Govt seeks $35,7m from Kuwait Fund

by **RamblerNash** Mon Nov 14, 2016 1:32 am

Govt seeks $35,7m from Kuwait Fund

November 14, 2016 in Business

The government is negotiating with the Kuwait Fund for Arab Economic Development for $35,7 million for the Zhove irrigation project in Beitbridge.

BY VICTORIA MTOMBA

The project will develop infrastructure for intensive citrus production on 2 520 hectares of land and is expected to benefit 5 000 households upon completion, Finance minister Patrick Chinamasa said in a statement on Friday.

“While the Kuwait Fund will provide $20 million, the government will contribute $7 million. The fund is assisting with mobilising the remaining $8,7 million from the Abu Dhabi Fund for development,” he said.

The project is in line with the government’s policy thrust to eradicate poverty, which resulted in the launch of the Interim Poverty Reduction Strategy Paper in September 2016, Chinamasa said.

The mission was in the country for two weeks until Saturday on an appraisal mission of the Zhove irrigation project. Chinamasa said the government was also negotiating for technical assistance and an economic feasibility study for the construction of two district hospitals in Harare.

Zimbabwe has more surface water than rain water, which can be used for agricultural purposes.

Agriculture is the backbone of the economy and employs over 60% of the country’s workforce.

The poverty reduction strategy indicates that agriculture should be encouraged and be a priority list. The Lands Ministry is working on the release of 99-year leases, which will help farmers access funding for agriculture.

The sector requires at least $2 billion each season, but in some instance, farmers are unable to access funding.

https://www.newsday.co.zw/2016/11/14/govt-seeks-357m-kuwait-fund/