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Wednesday, 27 January 2016

Zimbabwe: Roadmap for EU $100m fund

The government and the European Union have reached an agreement on the use of more than $100 million from the bloc under the National Indicative Programme (NIP) sponsored by the 11th European Development Fund (2014-2020). There are expectations that the government will get more funding under the same facility. The government and the EU, in February last year, signed a co-operation agreement for the release of €234 million ($270 million) development assistance, marking the first time since 2002 that the European bloc is channeling funds through Treasury. The funding targets to support health, agriculture and governance and institution building which are sectors that are key in the implementation of Zim-Asset. In an interview after paying a courtesy call on Vice President Emmerson Mnangagwa at his Munhumutapa Offices in Harare last week, head of the EU delegation to Zimbabwe, Ambassador Philippe Van Damme said they had reached an agreement on how to use 60 percent of the fund. He said by the end of this year, the government and the EU are expected to have reached consensus on the implementation of at least 85 percent of the funding. “That means we’ve come to a common agreement with the government and ourselves on how we’ll implement about 60 percent of the EDF (European Development Fund),” he said. “So, we’ve found implementing agencies for example, Unicef, World Bank, FAO and so forth to implement these projects we agreed on. This year we’ll continue with the implementation of the rest of the EDF.

Source: The Chronicle