Type to search

Africa Business News

Zim gets US$10.4 mln AfDB grant for tax & accountability projects


Harare, (New Ziana) – The Zimbabwean government and the African Development Bank (AfDB) on Thursday signed an agreement for a US$10.4 million grant for projects aimed at improving the tax and accountability capacities of three key public institutions.

The government will chip in with an additional US$1.1 million for the projects targeted at the Zimbabwe Revenue Authority (Zimra), the Parliament of Zimbabwe and the Office of the Auditor General.

Implementation of the projects will run for three years up to December 31, 2023.

Finance and Economic Development Minister, Professor Mthuli Ncube and AfDB country manager, Damoni Kitabire signed the agreement.

Prof Ncube said the funding would assist government efforts towards improving good corporate governance and enhancing service delivery in
public institutions.

“The project is expected to strengthen the transparency and accountability oversight mandates of the three institutions in line with the Transitional Stabilisation Programme which prioritises fiscal consolidation, economic stabilisation, and inclusive growth as well as employment creation,” he said.

The bulk of the funding, about US$8.1 million, will go towards Zimra’s tax and revenue management system, US$2.9 million towards Parliament and the Auditor General’s Office while about US0.56 million will fund project management and monitoring and evaluation.

Zimra is a key institution for government, providing the bulk of funding for its budget in the wake of dried up international support.

Kitabire said AfDB funding was aimed at supporting government reform efforts, which the continental bank was fully behind.

“We are aware that tax administration and related reforms are at the core of this recovery and as a bank, we have been and will continue to support the initiatives in this effort,” he said.

“As your bank, we will stand with you and support you as you endeavour to revive the economy with progressive market oriented policies.”

The government, he said, should continue its reform efforts of the macro-economy especially those aimed at attracting foreign exchange which is necessary for full restoration of macroeconomic stability and rebuilding of general infrastructure.
New Ziana


You Might also Like

Leave a Comment

vulkan vegas, vulkan casino, vulkan vegas casino, vulkan vegas login, vulkan vegas deutschland, vulkan vegas bonus code, vulkan vegas promo code, vulkan vegas österreich, vulkan vegas erfahrung, vulkan vegas bonus code 50 freispiele, 1win, 1 win, 1win az, 1win giriş, 1win aviator, 1 win az, 1win azerbaycan, 1win yukle, pin up, pinup, pin up casino, pin-up, pinup az, pin-up casino giriş, pin-up casino, pin-up kazino, pin up azerbaycan, pin up az, mostbet, mostbet uz, mostbet skachat, mostbet apk, mostbet uz kirish, mostbet online, mostbet casino, mostbet o'ynash, mostbet uz online, most bet, mostbet, mostbet az, mostbet giriş, mostbet yukle, mostbet indir, mostbet aviator, mostbet casino, mostbet azerbaycan, mostbet yükle, mostbet qeydiyyat