UN to Allocate $2.8b for Zimbabwe's Development

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by KnowESG
Image courtesy of https://www.reportfocusnews.com/

The United Nations (UN) has announced its plan to mobilise $2.8 billion by 2026 for developmental programmes in Zimbabwe.

The announcement was made during the High-Level Joint Steering Committee meeting of the Zimbabwe UN Sustainable Development Cooperation Framework (ZUNSDCF) held last week.

The meeting reviewed the progress made in 2022 and agreed on priority areas to focus on this year. The ZUNSDCF has a five-year program cycle until 2026 and is fully aligned with the National Development Strategy 1, with a development finance portfolio of $2.8 billion to be mobilised in support of national development priorities and Sustainable Development Goals.

The priority areas for 2023 include creating an enabling environment that promotes human development, climate resilience, natural resources management and sustainable food systems, economic transformation, equitable and inclusive growth, and addressing structural challenges related to poverty, exclusion, corruption, discrimination, adherence to the rule of law, and violation of human rights.

In 2022, the ZUNSDCF spent $524 million on various projects and programs targeting populations that included persons with disabilities, migrants and refugees, children, youths, and rural farmers, among others.

The UN’s commitment to mobilise $2.8 billion is a significant investment in Zimbabwe’s development. It is hoped that the funds will help address the country’s developmental challenges and improve the lives of its citizens.

Zimbabwe has been facing economic challenges for several years, including high unemployment, inflation, and a shortage of foreign currency. The country’s government has been implementing various reforms to address these challenges and promote economic growth.

The UN’s support for Zimbabwe’s development is a welcome boost to the government’s efforts. The funds will be instrumental in addressing some of the country’s most pressing developmental challenges and helping to improve the standard of living for its citizens.

For more sustainable finance news

Source: Report Focus News


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