EU grants Zimbabwe over $81 million for development

Harare, Oct 31 (IANS) The European Union (EU) extended 75 million euros (about $81.5 million) to Zimbabwe to help the southern African country address the impacts of climate change and enhance socioeconomic development.

Mthuli Ncube, Zimbabwean Minister of Finance, Economic Development and Investment Promotion, and EU Ambassador to Zimbabwe Jobst von Kirchmann signed four financing agreements during a ceremony held in Harare, the capital of Zimbabwe, on Wednesday.

According to a joint statement issued by the two sides, the financing aims to accelerate Zimbabwe's green transition by supporting agricultural value chains, renewable energy investments in agriculture, biodiversity conservation, and community resilience.

The investment also prioritises transparent and accountable governance, as well as gender equality and women's economic empowerment in Zimbabwe, reports Xinhua news agency, quoting the statement.

"Zimbabwe remains grateful for the EU support, and today marks another milestone in our cooperation," Ncube said, expressing Zimbabwe's commitment to full reengagement with the EU.

Meanwhile, von Kirchmann expressed the wish to deepen bilateral cooperation, pledging that he will seek to invite more European companies to invest in Zimbabwe next year.